Convertible and Other Debt

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Convertible and Other Debt

4. Convertible and Other Debt

The Company issued convertible promissory notes between December 2015 and May 2020 totaling $21.8 million, of which $2.0 million was with related parties. The convertible promissory notes accrued interest at 8% per annum with maturity dates of five years after issuance. The convertible promissory notes were settled in connection with the Company’s Series D financing in July 2020. In April 2020, the Company borrowed $0.7 million under the Paycheck Protection Program (“PPP”) under the CARES Act. The loan

was subsequently forgiven in July 2021. The $0.7 million balance of the forgiven loan was recognized as other income on the Company's Statement of Operations for the three and nine months ended September 30, 2021. For the three and nine months ended September 30, 2021, the Company recognized interest expense related to its outstanding debt of $0 and $3,000, respectively. For the three and nine months ended September 30, 2020, the Company recognized interest expense related to its outstanding debt of $0.1 million and $1.4 million, respectively.