v3.25.2
Financial Instruments and Fair Value Measurements
6 Months Ended
Jun. 30, 2025
Financial Instruments and Fair Value Measurements  
Financial Instruments and Fair Value Measurements

5. Financial Instruments and Fair Value Measurements

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy:

    

June 30, 2025

(in thousands)

Level 1

    

Level 2

    

Level 3

    

Total

Assets

 

  

 

  

 

  

 

  

Money market fund (included in cash and cash equivalents)

$

9,147

$

$

$

9,147

Corporate and government debt securities (included in Marketable securities)

 

 

15,175

 

 

15,175

Total assets

$

9,147

$

15,175

$

$

24,322

    

December 31, 2024

(in thousands)

Level 1

    

Level 2

    

Level 3

    

Total

Assets

 

  

 

  

 

  

 

  

Money market fund (included in cash and cash equivalents)

$

12,248

$

$

$

12,248

Corporate and government debt securities (included in Marketable securities)

 

 

44,551

 

 

44,551

Total assets

$

12,248

$

44,551

$

$

56,799

The Level 2 assets consist of government and corporate debt securities which are valued using market observable inputs, including the current interest rate and other characteristics for similar types of investments, whose fair value may not represent actual transactions of identical securities. There were no transfers between Levels 1, 2 or 3 for the periods presented.