The following table summarizes the Company’s investments as of December 31, 2025 (in thousands): | | | | | | | | | | | | | | | | | | Gross | | | | | | Amortized | | Unrealized | | Estimated | | | Cost | | Gains | | Losses | | Fair Value | Marketable securities available-for-sale: | | | | | | | | | | | | | U.S. treasury obligations and government agency securities | | $ | 43,940 | | $ | 96 | | $ | — | | $ | 44,036 | Total available-for-sale securities | | $ | 43,940 | | $ | 96 | | $ | — | | $ | 44,036 |
The following table summarizes the Company’s investments as of December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | Gross | | | | | | Amortized | | Unrealized | | Estimated | | | Cost | | Gains | | Losses | | Fair Value | Marketable securities available-for-sale: | | | | | | | | | | | | | U.S. treasury obligations and government agency securities | | $ | 259,240 | | $ | 180 | | $ | (20) | | $ | 259,400 | Total available-for-sale securities | | $ | 259,240 | | $ | 180 | | $ | (20) | | $ | 259,400 |
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