Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis

The following table sets forth the recurring fair value of the Company’s financial assets and liabilities, allocated into the Level 1, Level 2 and Level 3 hierarchy that were measured at fair value on a recurring basis (in thousands):


		Fair Value Measurements as of March 31, 2026
		Level 1				Level 2				Level 3				Total
Assets:
Money market funds (1)		$	34,540			$	—			$	—			$	34,540
U.S. government treasury bills (2)			39,245				—				—				39,245
Commercial paper							12,366								12,366
Corporate bonds			—				36,642				—				36,642
Total financial assets		$	73,785			$	49,008			$	—			$	122,793


		Fair Value Measurements as of December 31, 2025
		Level 1				Level 2				Level 3				Total
Assets:
Money market funds (1)		$	37,318			$	—			$	—			$	37,318
U.S. government treasury bills			43,881				—				—				43,881
Commercial paper			—				16,262				—				16,262
Corporate bonds			—				47,986				—				47,986
Total financial assets		$	81,199			$	64,248			$	—			$	145,447

(1)

Included in cash and cash equivalents in the accompanying condensed balance sheets.

(2)

Includes investments classified as cash and cash equivalents in the accompanying balance sheets.