v3.26.1
Short-Term Investments
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Short-Term Investments

3. Short-Term Investments

Short-term investments classified as available-for-sale consisted of the following:

 

 

March 31, 2026

 

(in thousands)

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Fair Value

 

Short-term investments:

 

 

 

 

 

 

 

 

 

US treasuries

 

$

1,797

 

 

$

—

 

 

$

1,797

 

Commercial paper

 

 

1,290

 

 

 

1

 

 

 

1,291

 

Certificates of deposit

 

 

17,356

 

 

 

3

 

 

 

17,359

 

Total short-term investments

 

$

20,443

 

 

$

4

 

 

$

20,447

 

 

 

 

December 31, 2025

 

(in thousands)

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Fair Value

 

Short-term investments:

 

 

 

 

 

 

 

 

 

US treasuries

 

$

1,779

 

 

$

2

 

 

$

1,781

 

Commercial paper

 

 

8,986

 

 

 

6

 

 

 

8,992

 

Certificates of deposit

 

 

6,480

 

 

 

9

 

 

 

6,489

 

Total short-term investments

 

$

17,245

 

 

$

17

 

 

$

17,262

 

All short-term investments had stated maturity dates of less than one year. Included in the amortized cost as of March 31, 2026 and December 31, 2025 is net accumulated accretion of $0.1 million and $0.3 million, respectively. Interest accretion on short-term investments was less than $0.1 million and $1.1 million during the three months ended March 31, 2026 and 2025, respectively.