v3.25.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables set forth the fair values of financial assets as of June 30, 2025 and December 31, 2024 that were measured at fair value on a recurring basis (in thousands):

 

 

 

June 30, 2025

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

29,230

 

 

$

 

 

$

 

 

$

29,230

 

Commercial paper

 

 

 

 

 

1,465

 

 

 

 

 

 

1,465

 

U.S. government treasury securities

 

 

 

 

 

149,461

 

 

 

 

 

 

149,461

 

Corporate bonds

 

 

 

 

 

27,884

 

 

 

 

 

 

27,884

 

Total financial assets

 

$

29,230

 

 

$

178,810

 

 

$

 

 

$

208,040

 

 

 

 

 

December 31, 2024

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

35,790

 

 

$

 

 

$

 

 

$

35,790

 

Commercial paper

 

 

 

 

 

2,479

 

 

 

 

 

 

2,479

 

U.S. government treasury securities

 

 

 

 

 

187,181

 

 

 

 

 

 

187,181

 

Corporate bonds

 

 

 

 

 

18,374

 

 

 

 

 

 

18,374

 

Total financial assets

 

$

35,790

 

 

$

208,034

 

 

$

 

 

$

243,824