| Schedule of the Company’s Assets and Liabilities that are Measured and Recognized at Fair Value on a Recurring Basis Classified Under the Appropriate Level of the Fair Value Hierarchy |
The following table presents the Company’s assets and liabilities that are measured and recognized at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy as of June 30, 2025, and December 31, 2024:
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Fair Value Measurements at
June 30, 2025 |
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(in thousands) |
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Quoted Prices in Active Markets for Identical Assets and Liabilities
(Level 1) |
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Significant Other Observable Inputs
(Level 2) |
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Significant Unobservable Inputs
(Level 3) |
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Total |
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Assets: |
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Money market fund |
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$ |
9,072 |
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$ |
— |
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$ |
— |
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$ |
9,072 |
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U.S. treasury securities |
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1,615 |
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— |
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— |
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1,615 |
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Total included in cash and cash equivalents |
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10,687 |
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— |
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— |
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10,687 |
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Available for sale investments: |
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Corporate debt securities |
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— |
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35,769 |
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— |
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35,769 |
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Commercial paper |
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— |
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389 |
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— |
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389 |
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U.S. government agencies |
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— |
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4,614 |
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— |
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4,614 |
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U.S. treasury securities |
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19,401 |
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— |
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— |
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19,401 |
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Total available for sale investments |
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19,401 |
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40,772 |
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— |
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60,173 |
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Total assets measured at fair value on a recurring basis |
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$ |
30,088 |
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$ |
40,772 |
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$ |
— |
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$ |
70,860 |
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Fair Value Measurements at
December 31, 2024 |
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(in thousands) |
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Quoted Prices in Active Markets for Identical Assets and Liabilities
(Level 1) |
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Significant Other Observable Inputs
(Level 2) |
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Significant Unobservable Inputs
(Level 3) |
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Total |
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Assets: |
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Money market fund |
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$ |
50,499 |
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$ |
— |
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$ |
— |
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$ |
50,499 |
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U.S. treasury securities |
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393 |
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— |
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— |
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393 |
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Total included in cash and cash equivalents |
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50,892 |
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— |
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— |
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50,892 |
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Available for sale investments: |
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Corporate debt securities |
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— |
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23,489 |
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— |
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23,489 |
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Commercial paper |
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— |
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313 |
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— |
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313 |
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U.S. treasury securities |
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16,474 |
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— |
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— |
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16,474 |
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Total available for sale investments |
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16,474 |
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23,802 |
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— |
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40,276 |
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Total assets measured at fair value on a recurring basis |
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$ |
67,366 |
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$ |
23,802 |
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$ |
— |
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$ |
91,168 |
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