v3.26.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on Recurring Basis

 

 

As of March 31, 2026:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents (money market)

 

$

48,820

 

 

$

-

 

 

$

-

 

 

$

48,820

 

Current portion of investments in U.S. Treasury securities

 

 

-

 

 

 

121,275

 

 

 

-

 

 

 

121,275

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Non-current portion of investments in U.S. Treasury securities

 

 

-

 

 

 

34,510

 

 

 

-

 

 

 

34,510

 

 

$

48,820

 

 

$

155,785

 

 

$

-

 

 

$

204,605

 

 

 

 

As of December 31, 2025:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents (money market)

 

$

40,178

 

 

$

-

 

 

$

-

 

 

$

40,178

 

Current portion of investments in U.S. Treasury securities

 

 

-

 

 

 

118,767

 

 

 

-

 

 

 

118,767

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Non-current portion of investments in U.S. Treasury securities

 

 

-

 

 

 

64,801

 

 

 

-

 

 

 

64,801

 

 

$

40,178

 

 

$

183,568

 

 

$

-

 

 

$

223,746

 

Schedule of Investments in U.S. Treasury Securities Classified as Available-for-Sale Securities

Investments in U.S. Treasury securities, which are classified as available-for-sale securities, consisted of the following as of March 31, 2026 and December 31, 2025:

 

 

As of March 31, 2026:

 

 

 

Amortized Cost Basis

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

155,927

 

 

$

-

 

 

$

(142

)

 

$

155,785

 

 

$

155,927

 

 

$

-

 

 

$

(142

)

 

$

155,785

 

 

 

 

As of December 31, 2025:

 

 

 

Amortized Cost Basis

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

183,380

 

 

$

188

 

 

$

-

 

 

$

183,568

 

 

$

183,380

 

 

$

188

 

 

$

-

 

 

$

183,568