There were no available-for-sale securities as of December 31, 2025. The following table is a summary of available-for-sale securities recorded in cash and cash equivalents or marketable securities in the Company’s consolidated balance sheets as of December 31, 2024 (in thousands):


	December 31, 2024
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:
U.S. Treasury money market funds	$	37,177	$	—	$	—	$	37,177
Commercial paper	3,962		1		—		3,963
Marketable securities:
Corporate debt securities	15,165		29		—		15,194
U.S. Treasury securities	27,340		51		—		27,391
Commercial paper	42,872		69		(22)		42,919
U.S. Government agency bonds	4,972		20		—		4,992
Total	$	131,488	$	170	$	(22)	$	131,636
Cash							609
Total cash, cash equivalent and marketable securities							$	132,245

The Company did not recognize an allowance for credit losses on any securities in an unrealized loss position as of December 31, 2024.

The following table displays additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of December 31, 2024 (in thousands):


	December 31, 2024
	Less than 12 months
	Fair Value		Unrealized Losses
Commercial paper	$	15,880	$	(22)
Total	$	15,880	$	(22)

The Company believed that the individual unrealized losses represent temporary declines primarily resulting from interest rate changes, and intended to hold these marketable securities to their maturities.

The Company evaluated securities with unrealized losses to determine whether such losses, if any, were due to credit-related factors and determined that there were no credit-related losses to be recognized as of December 31, 2024. There were no sales of available-for-sale securities for the years ended December 31, 2025 and 2024.