The following is a summary of our short-term investments (in thousands):


	March 31, 2026
			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
	Cost		Gains		Losses			Fair Value
U.S. treasury bills and government agency obligations	$	8,155	$	—	$	—		$	8,155
Foreign commercial paper		6,341		—		(2	)		6,339
Foreign corporate debt securities		2,586		—		(2	)		2,584
U.S. corporate debt securities		799		—		(2	)		797
U.S. commercial paper		792		—		—			792
Total	$	18,673	$	—	$	(6	)	$	18,667


	December 31, 2025
			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
U.S. treasury bills and government agency obligations	$	5,542	$	2	$	—	$	5,544
U.S. corporate debt securities		5,439		1		—		5,440
Foreign commercial paper		3,979		—		—		3,979
U.S. commercial paper		1,545		—		—		1,545
Foreign corporate debt securities		1,475		1		—		1,476
Total	$	17,980	$	4	$	—	$	17,984

The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. We regularly monitor and evaluate the realizable value of our marketable securities. We did not recognize any impairment losses during the three months ended March 31, 2026 and 2025.

Unrealized gains and losses associated with our investments are reported in accumulated other comprehensive loss. Realized gains and losses associated with our investments, if any, are reported in the statements of operations and comprehensive loss. We did not recognize any realized gains or losses during the three months ended March 31, 2026 and 2025.