Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Measurements

Summary of fair value of the Company's financial assets

The following tables set forth the fair value of the Company’s financial assets by level within the fair value hierarchy as of March 31, 2026 and December 31, 2025:

To the extent the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair values requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized as Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.e following tables set forth the fair value of the Company’s financial assets by level within the fair value hierarchy as of March 31, 2026 and December 31, 2025:
		March 31, 2026
								Significant
					Quoted Prices in			Other
					Active Markets or			Observable			Significant
					Identical Assets			Inputs			Unobservable
(in thousands)		Total			(Level 1)			(Level 2)			(Level 3)
Cash equivalents:
Money market funds		$	14,667		$	14,667		$	—		$	—
Marketable securities:
Corporate bonds			14,576			—			14,576			—
Total		$	29,243		$	14,667		$	14,576		$	—


		December 31, 2025
								Significant
					Quoted Prices in			Other
					Active Markets or			Observable			Significant
					Identical Assets			Inputs			Unobservable
(in thousands)		Total			(Level 1)			(Level 2)			(Level 3)
Cash equivalents:
Money market funds		$	25,420		$	25,420		$	—		$	—
Marketable securities:
Corporate bonds			15,836			—			15,836			—
Total		$	41,256		$	25,420		$	15,836		$	—