| Summary of Financial Assets Measured at Fair Value on a Recurring Basis |
The following table presents the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy as of June 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
|
Hierarchy |
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
|
|
|
|
(in thousands) |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
Level 1 |
|
$ |
106,801 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
106,801 |
|
Total |
|
|
|
$ |
106,801 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
106,801 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government and agencies securities |
|
Level 2 |
|
$ |
6,499 |
|
|
$ |
— |
|
|
$ |
(5 |
) |
|
$ |
6,494 |
|
U.S. Treasury securities |
|
Level 2 |
|
|
138,331 |
|
|
|
16 |
|
|
|
(20 |
) |
|
|
138,327 |
|
Total |
|
|
|
$ |
144,830 |
|
|
$ |
16 |
|
|
$ |
(25 |
) |
|
$ |
144,821 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
|
|
$ |
251,631 |
|
|
$ |
16 |
|
|
$ |
(25 |
) |
|
$ |
251,622 |
|
The following table presents the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
|
Hierarchy |
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
|
|
|
|
(in thousands) |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
Level 1 |
|
$ |
63,354 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
63,355 |
|
Total |
|
|
|
$ |
63,354 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
63,355 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government and agencies securities |
|
Level 2 |
|
$ |
102,094 |
|
|
$ |
138 |
|
|
$ |
(8 |
) |
|
$ |
102,224 |
|
U.S. Treasury securities |
|
Level 2 |
|
|
172,906 |
|
|
|
199 |
|
|
|
(5 |
) |
|
|
173,100 |
|
Total |
|
|
|
$ |
275,000 |
|
|
$ |
337 |
|
|
$ |
(13 |
) |
|
$ |
275,324 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities |
|
Level 2 |
|
$ |
28,422 |
|
|
$ |
7 |
|
|
$ |
(41 |
) |
|
$ |
28,388 |
|
Total |
|
|
|
$ |
28,422 |
|
|
$ |
7 |
|
|
$ |
(41 |
) |
|
$ |
28,388 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
|
|
$ |
366,776 |
|
|
$ |
345 |
|
|
$ |
(54 |
) |
|
$ |
367,067 |
|
|