| Schedule of Assets Measured at Fair Value on Recurring Basis |
The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of September 30, 2025 and December 31, 2024 (in thousands):
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Fair Value Measurements at
September 30, 2025: |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Assets: |
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Cash equivalents |
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Money market fund |
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$ |
98,459 |
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$ |
— |
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$ |
— |
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$ |
98,459 |
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US government agencies |
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— |
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2,977 |
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— |
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2,977 |
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Commercial Paper |
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— |
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5,974 |
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— |
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|
5,974 |
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Marketable securities, current |
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US treasuries |
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107,665 |
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— |
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— |
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107,665 |
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US government agencies |
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— |
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82,116 |
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— |
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82,116 |
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Commercial Paper |
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— |
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10,684 |
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— |
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10,684 |
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Corporate bonds |
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— |
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192,268 |
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— |
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192,268 |
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Marketable securities, non-current |
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US treasuries |
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81,433 |
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— |
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— |
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81,433 |
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US government agencies |
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— |
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140,776 |
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— |
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|
140,776 |
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Corporate bonds |
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— |
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250,846 |
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— |
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250,846 |
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Restricted cash |
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5,788 |
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— |
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— |
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|
5,788 |
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Total |
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$ |
293,345 |
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$ |
685,641 |
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$ |
— |
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$ |
978,986 |
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Fair Value Measurements at
December 31, 2024: |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Assets: |
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Cash equivalents |
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Money market fund |
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$ |
106,234 |
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$ |
— |
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$ |
— |
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$ |
106,234 |
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US treasuries |
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|
1,497 |
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— |
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— |
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1,497 |
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US government agencies |
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— |
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9,925 |
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— |
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9,925 |
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Marketable securities, current |
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US treasuries |
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|
96,442 |
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— |
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— |
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96,442 |
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US government agencies |
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— |
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|
42,068 |
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— |
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42,068 |
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Commercial Paper |
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— |
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|
15,851 |
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— |
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|
15,851 |
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Corporate bonds |
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— |
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214,127 |
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— |
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214,127 |
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Marketable securities, non-current |
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US treasuries |
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62,022 |
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— |
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— |
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|
62,022 |
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US government agencies |
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— |
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|
135,749 |
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— |
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|
135,749 |
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Corporate bonds |
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— |
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|
164,388 |
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— |
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|
164,388 |
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Restricted cash |
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|
5,794 |
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— |
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— |
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|
5,794 |
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Total |
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$ |
271,989 |
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$ |
582,108 |
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$ |
— |
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$ |
854,097 |
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