
	June 30, 2026		December 31, 2025
Current marketable investment securities:
Equity securities	$	6,814	$	5,555
Debt securities - AFS	197,875		171,631
Debt securities - HTM	—		5,590
Total current marketable investment securities	$	204,689	$	182,776

On January 26, 2026, in connection with SciBase’s rights offering, we completed an amendment to our previously disclosed subscription commitment. We increased our commitment to subscribe for shares without subscription rights from 115.0 million shares to 125.0 million shares. This amendment was intended to achieve an outcome substantially similar to full participation under our subscription rights. In addition, we purchased subscription rights for another 30.5 million shares from a separate SciBase shareholder. These purchased rights, together with our shares without subscription rights, aggregated to a total share purchase of 155.5 million shares for $3.6 million. On June 4, 2026, SciBase announced a 1-for-100 reverse share split. Following the reverse share split, our total share purchase now represents 1.55 million shares.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net (losses) gains on equity securities	$	(630)	$	1,185	$	1,392	$	(240)
Less: Net (loss) recognized on equity securities sold	(386)		—		(513)		—
Net unrealized (losses) gains recognized on equity securities still held	$	(244)	$	1,185	$	1,905	$	(240)


	June 30, 2026
	Amortized Cost		Unrealized				Estimated Fair Value
			Gains		Losses
U.S. government securities - AFS	$	198,131	$	7	$	(263)	$	197,875

Total debt securities	$	198,131	$	7	$	(263)	$	197,875


	December 31, 2025
	Amortized Cost		Unrealized				Estimated Fair Value
			Gains		Losses
U.S. government securities - AFS	$	171,364	$	269	$	(2)	$	171,631
U.S. government securities - HTM	5,590		11		—		5,601
Total debt securities	$	176,954	$	280	$	(2)	$	177,232

Our AFS securities are available to be sold to meet operating needs or otherwise, but are generally held through maturity. We classify all AFS investments as current assets, as these are readily available for use in current operations. As of June 30, 2026 and December 31, 2025, all of our AFS securities had contractual maturities of one year or less.

As of December 31, 2025, we classified our HTM investments as current assets, as we had the positive intent and ability to hold these investments to maturity, and all such maturities are less than one year from the balance sheet date.

We evaluated our U.S. government securities under the AFS impairment model guidance and determined our investment portfolio is comprised of low-risk, investment grade securities.

For the three and six months ended June 30, 2026 and 2025, unrealized losses on our AFS U.S. government securities are not attributed to credit risk. We believe that an allowance for credit losses is unnecessary because the unrealized losses on certain of our marketable investment securities are due to market factors. The allowance for credit losses was zero as of June 30, 2026 and December 31, 2025.

There were no realized gains or losses on sales of AFS debt securities for the three and six months ended June 30, 2026 and 2025. In addition, no credit-related or noncredit-related impairment losses were recorded for the three and six months ended June 30, 2026 and 2025.

Accrued interest receivable for our AFS U.S. government securities is included in prepaid expenses and other current assets in the condensed consolidated balance sheets. As of June 30, 2026 and December 31, 2025, the accrued interest receivable related to AFS securities was $1.4 million and $1.1 million, respectively. Accrued interest receivable related to HTM securities was immaterial as of December 31, 2025.