| Summary of Financial Assets Measured At Fair Value On A Recurring Basis |
The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of June 30, 2025 and December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2025 | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets: | | | | | | | | | Money market funds | $ | 86,354 | | | $ | — | | | $ | — | | | $ | 86,354 | | | | | | | | | | | Debt securities issued by US. government agencies | 101,112 | | | — | | | — | | | 101,112 | | | Corporate debt securities | — | | | 100,928 | | | — | | | 100,928 | | | Commercial paper | — | | | 7,888 | | | — | | | 7,888 | | | Other debt securities | — | | | 79,301 | | | — | | | 79,301 | | | $ | 187,466 | | | $ | 188,117 | | | $ | — | | | $ | 375,583 | |
| | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2024 | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets: | | | | | | | | | Money market funds | $ | 128,652 | | | $ | — | | | $ | — | | | $ | 128,652 | | | | | | | | | | | Debt securities issued by US. government agencies | 144,644 | | | — | | | — | | | 144,644 | | | Corporate debt securities | — | | | 107,852 | | | — | | | 107,852 | | | Commercial paper | — | | | 8,794 | | | — | | | 8,794 | | | Other debt securities | — | | | 8,821 | | | — | | | 8,821 | | | $ | 273,296 | | | $ | 125,467 | | | $ | — | | | $ | 398,763 | |
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