The following table summarizes the amortized cost and estimated fair value of the Company’s current and noncurrent marketable securities (in thousands):


	December 31, 2025
	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Marketable securities, current:
U.S. Treasury securities	$	135,801	$	263	$	—	$	136,064
Commercial paper	24,391		10		(5)		24,396
Corporate debt	11,813		3		(1)		11,815
Government agency securities	5,145		11		—		5,156
Total marketable securities, current	177,150		287		(6)		177,431
Marketable securities, noncurrent:
U.S. Treasury securities	55,793		208		—		56,001
Government agency securities	18,368		51		—		18,419
Total marketable securities, noncurrent	74,161		259		—		74,420
Total marketable securities	$	251,311	$	546	$	(6)	$	251,851


	December 31, 2024
	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Marketable securities, current:
U.S. Treasury securities	$	55,154	$	176	$	—	$	55,330
Government agency securities	31,198		62		(1)		31,259
Corporate debt	17,205		22		—		17,227
Commercial paper	5,931		3		—		5,934
Total marketable securities, current	109,488		263		(1)		109,750
Marketable securities, noncurrent:
U.S. Treasury securities	15,266		83		—		15,349
Government agency securities	5,133		23		—		5,156
Total marketable securities, noncurrent	20,399		106		—		20,505
Total marketable securities	$	129,887	$	369	$	(1)	$	130,255

The Company has determined that there were no material changes in the credit risk, therefore the Company has not recognized any allowance for credit losses on its debt securities. As of December 31, 2025, the Company holds marketable securities with an aggregate fair value of $74.4 million that had remaining maturities between one and two years. All other securities had a contractual maturity of less than a year. There were no realized gains or losses during the years ended December 31, 2025, or 2024.