v3.25.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Measurements  
Schedule of Financial Assets and Liabilities Measured on a Recurring Basis

Fair Value Measurements

June 30, 2025

(in thousands)

    

Level 1

    

Level 2

    

Level 3

    

Total

Financial Assets:

 

 

  

 

  

 

  

Cash equivalents(1)

$

214,948

$

1,649

$

$

216,597

Marketable debt securities:

 

 

 

 

U.S. government agency securities

1,174

1,174

U.S. treasury securities

1,730

1,730

Commercial paper and corporate notes

17,840

17,840

Total

$

217,852

$

19,489

$

$

237,341

Financial Liabilities:

 

 

  

 

  

 

  

Royalty Fee Derivative Liability

$

$

$

1,490

$

1,490

Contingent consideration

632

632

Total

$

$

$

2,122

$

2,122

Fair Value Measurements

December 31, 2024

(in thousands)

    

Level 1

    

Level 2

    

Level 3

    

Total

Financial Assets:

 

 

  

 

  

 

  

Cash equivalents(1)

$

125,549

$

$

$

125,549

Financial Liabilities:

Royalty Fee Derivative Liability

$

$

$

13,620

$

13,620

Contingent consideration

632

632

Total

$

$

$

14,252

$

14,252

(1)Cash equivalents may include the following: money market funds, U.S. treasury securities, commercial paper or corporate notes with original maturities of 90 days or less.
Schedule of Cash and cash equivalents, marketable securities and restricted cash

June 30, 2025

(in thousands)

    

Cost

    

Unrealized Gain

    

Unrealized (Loss)

    

Fair Value

Money market funds

$

211,475

$

$

$

211,475

U.S. government agency securities

1,174

 

1,174

U.S. treasury securities

5,203

5,203

Commercial paper and corporate notes

19,489

5

(5)

19,489

Total

$

237,341

 

$

5

$

(5)

$

237,341

December 31, 2024

(in thousands)

    

Cost

    

Unrealized Gain

    

Unrealized (Loss)

    

Fair Value

Money market funds

$

125,549

$

$

$

125,549