| Summary of Financial Assets Recognized at Fair Value on Recurring Basis |
The Company’s financial assets recognized at fair value on a recurring basis consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
|
(In thousands) |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents and restricted cash equivalents |
|
$ |
79,145 |
|
|
$ |
79,145 |
|
|
$ |
- |
|
|
$ |
- |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and other government-backed securities |
|
|
191,841 |
|
|
|
129,324 |
|
|
|
62,517 |
|
|
|
- |
|
Financial institution debt securities |
|
|
116,544 |
|
|
|
- |
|
|
|
116,544 |
|
|
|
- |
|
Corporate debt securities |
|
|
74,165 |
|
|
|
- |
|
|
|
74,165 |
|
|
|
- |
|
Total marketable securities |
|
|
382,550 |
|
|
|
129,324 |
|
|
|
253,226 |
|
|
|
- |
|
Investment in Kyverna Therapeutics, Inc. |
|
|
10,130 |
|
|
|
10,130 |
|
|
|
- |
|
|
|
- |
|
Total assets |
|
$ |
471,825 |
|
|
$ |
218,599 |
|
|
$ |
253,226 |
|
|
$ |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
|
(In thousands) |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents and restricted cash equivalents |
|
$ |
92,263 |
|
|
$ |
92,263 |
|
|
$ |
- |
|
|
$ |
- |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and other government-backed securities |
|
|
221,117 |
|
|
|
150,852 |
|
|
|
70,265 |
|
|
|
- |
|
Financial institution debt securities |
|
|
146,815 |
|
|
|
- |
|
|
|
146,815 |
|
|
|
- |
|
Corporate debt securities |
|
|
81,738 |
|
|
|
- |
|
|
|
81,738 |
|
|
|
- |
|
Total marketable securities |
|
|
449,670 |
|
|
|
150,852 |
|
|
|
298,818 |
|
|
|
- |
|
Investment in Kyverna Therapeutics, Inc. |
|
|
11,034 |
|
|
|
11,034 |
|
|
|
- |
|
|
|
- |
|
Total assets |
|
$ |
552,967 |
|
|
$ |
254,149 |
|
|
$ |
298,818 |
|
|
$ |
- |
|
|