v3.25.3
Marketable Debt Securities (Tables)
9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Summary of Marketable Securities Classified as Available-for-sale

Marketable debt securities, all of which were classified as available-for-sale, consist of the following (in thousands):

 

 

September 30, 2025

 

 

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Aggregate
Fair Value

 

Marketable debt securities

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

67,268

 

 

$

69

 

 

$

 

 

$

67,337

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Aggregate
Fair Value

 

Marketable debt securities

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

107,288

 

 

$

170

 

 

$

 

 

$

107,458

 

Interest and Investment Income

Interest and investment income consists of the following (in thousands):

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Interest income

$

242

 

 

$

194

 

 

$

425

 

 

$

843

 

Accretion of discount, net

 

532

 

 

 

1,652

 

 

 

2,585

 

 

 

4,576

 

Total interest and investment income

$

774

 

 

$

1,846

 

 

$

3,010

 

 

$

5,419