| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis |
The following fair value hierarchy table presents fair value information about the Company’s assets and liabilities (amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Fair value measurement at reporting date using | | Quoted prices
in active markets for
identical assets
(Level 1) | | Significant
other
observable inputs (Level 2) | | Significant
unobservable inputs
(Level 3) | | Total | | December 31, 2025 | | | | | | | | Assets | | | | | | | | | Money Market fund | $ | 23,970 | | | $ | — | | | $ | — | | | $ | 23,970 | | | U.S. Treasury and government agency securities | 59,842 | | | 247,890 | | | — | | | 307,732 | | | Corporate debt securities | — | | | 183,456 | | | — | | | 183,456 | | | Commercial Paper | — | | | 34,616 | | | — | | | 34,616 | | | Total | $ | 83,812 | | | $ | 465,962 | | | $ | — | | | $ | 549,774 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Fair value measurement at reporting date using | | Quoted prices
in active markets for
identical assets
(Level 1) | | Significant
other
observable inputs (Level 2) | | Significant
unobservable inputs
(Level 3) | | Total | | December 31, 2024 | | | | | | | | | Assets | | | | | | | | | Money Market fund | $ | 217,515 | | | $ | — | | | $ | — | | | $ | 217,515 | | | U.S. Treasury securities | 171,885 | | | — | | | — | | | 171,885 | | | Total | $ | 389,400 | | | $ | — | | | $ | — | | | $ | 389,400 | |
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| Schedule of Debt Securities, Fair Value of U.S. Treasury Securities and Money Market Fund |
The following represents the amortized cost bases and fair values of the Company’s investments and money market fund as of December 31, 2025 (amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Money Market fund, included in Cash and cash equivalents | $ | 23,970 | | | $ | — | | | $ | — | | | $ | 23,970 | | | | | | | | | | | U.S. Treasury and government agency securities, included in: | | | | | | | | | | | | | | | | | Cash and cash equivalents | $ | 9,974 | | | $ | 1 | | | $ | — | | | $ | 9,975 | | | Short-term investments | 134,625 | | | 73 | | | (21) | | | 134,677 | | | Long-term investments | 163,141 | | | 27 | | | (88) | | | 163,080 | | | Total U.S. Treasury and government agency securities | $ | 307,740 | | | $ | 101 | | | $ | (109) | | | $ | 307,732 | | | | | | | | | | | Corporate debt securities, included in: | | | | | | | | | Short-term investments | $ | 63,847 | | | $ | 141 | | | $ | — | | | $ | 63,988 | | | Long-term investments | 119,279 | | | 252 | | | (63) | | | 119,468 | | | Total Corporate debt securities | $ | 183,126 | | | $ | 393 | | | $ | (63) | | | $ | 183,456 | | | | | | | | | | | Commercial paper, included in: | | | | | | | | | | | | | | | | | Short-term investments | $ | 34,605 | | | $ | 11 | | | $ | — | | | $ | 34,616 | | | Total Commercial paper | $ | 34,605 | | | $ | 11 | | | $ | — | | | $ | 34,616 | | | | | | | | | | | In aggregate: | | | | | | | | | Investments above with no unrealized loss | $ | 309,888 | | | $ | 505 | | | $ | — | | | $ | 310,393 | | | Investments above with unrealized loss | 239,553 | | | — | | | (172) | | | 239,381 | | | Total investments | $ | 549,441 | | | $ | 505 | | | $ | (172) | | | $ | 549,774 | |
The following represents the amortized cost bases and fair values of the Company’s investments and its money market fund as of December 31, 2024 (amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Money Market fund, included in Cash and cash equivalents | $ | 217,515 | | | $ | — | | | $ | — | | | $ | 217,515 | | | | | | | | | | | U.S. Treasury securities, included in: | | | | | | | | Cash and cash equivalents | $ | 72,762 | | | $ | 167 | | | $ | — | | | $ | 72,929 | | | Short-term investments | 95,534 | | | 3,422 | | | — | | | 98,956 | | | Total U.S. Treasury securities | $ | 168,296 | | | $ | 3,589 | | | $ | — | | | $ | 171,885 | |
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