Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the Company’s fair value hierarchy for its assets and liabilities that are measured at fair value on a recurring basis:


		Fair Value Measurements at
		June 30, 2026
		Level 1				Level 2				Level 3				Total
Assets		(in thousands)
Cash equivalents:
Money market fund		$	41,460			$	—			$	—			$	41,460
Restricted cash:
Money market fund			100				—				—				100
Short-term investments
U.S. Treasury securities			136,171				—				—				136,171
Long-term investments
U.S. Treasury securities			44,648				—				—				44,648
Total assets		$	222,379			$	—			$	—			$	222,379


		Fair Value Measurements at
		December 31, 2025
		Level 1				Level 2				Level 3				Total
Assets		(in thousands)
Cash equivalents:
Money market fund		$	26,249			$	—			$	—			$	26,249
Restricted cash:
Money market fund			100				—				—				100
Short-term investments
U.S. Treasury securities			187,549				—				—				187,549
Long-term investments
U.S. Treasury securities			45,431				—				—				45,431
Total assets		$	259,329			$	—			$	—			$	259,329