| Schedule of Financial Assets Measured at Fair Value on Recurring Basis and Level of Inputs used in such Measurements |
The following tables show the Company’s financial assets measured at fair value on a recurring basis and the level of inputs used in such measurements as of June 30, 2026 and December 31, 2025 (in thousands):
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June 30, 2026 |
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Adjusted Cost |
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Unrealized Gains |
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Unrealized Losses |
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Fair Value |
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Fair Value Level |
Assets |
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Cash and cash equivalents: |
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Cash |
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$ |
7,744 |
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$ |
— |
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$ |
— |
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$ |
7,744 |
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Money market funds |
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20,471 |
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— |
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— |
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|
20,471 |
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Level 1 |
Commercial paper |
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65,763 |
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|
— |
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(10 |
) |
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65,753 |
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Level 2 |
Total cash and cash equivalents |
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93,978 |
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— |
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(10 |
) |
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93,968 |
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Short-term investments: |
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Commercial paper |
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2,449 |
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— |
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— |
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2,449 |
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Level 1 |
Commercial paper |
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10,586 |
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— |
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(2 |
) |
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|
10,584 |
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Level 2 |
Corporate debt securities |
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2,714 |
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— |
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(2 |
) |
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|
2,712 |
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Level 1 |
U.S. agency securities |
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20,836 |
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— |
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(24 |
) |
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|
20,812 |
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Level 2 |
U.S. government securities |
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82,224 |
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|
1 |
|
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(92 |
) |
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|
82,133 |
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Level 2 |
Total short-term investments |
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118,809 |
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1 |
|
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(120 |
) |
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|
118,690 |
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Total assets measured at fair value |
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$ |
212,787 |
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|
$ |
1 |
|
|
$ |
(130 |
) |
|
$ |
212,658 |
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December 31, 2025 |
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Adjusted Cost |
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Unrealized Gains |
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Unrealized Losses |
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|
Fair Value |
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|
Fair Value Level |
Assets |
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Cash and cash equivalents: |
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Cash |
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$ |
4,919 |
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$ |
— |
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$ |
— |
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|
$ |
4,919 |
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Money market funds |
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45,349 |
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— |
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— |
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|
45,349 |
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Level 1 |
Commercial paper |
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|
498 |
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— |
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— |
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|
498 |
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Level 1 |
Commercial paper |
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73,491 |
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|
— |
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(12 |
) |
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|
73,479 |
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Level 2 |
Total cash and cash equivalents |
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124,257 |
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— |
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(12 |
) |
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124,245 |
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Short-term investments: |
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|
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|
|
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|
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Commercial paper |
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|
498 |
|
|
|
— |
|
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|
— |
|
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|
498 |
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|
Level 1 |
Commercial paper |
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12,734 |
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— |
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(2 |
) |
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|
12,732 |
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Level 2 |
Corporate debt securities |
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|
4,680 |
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|
1 |
|
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(2 |
) |
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|
4,679 |
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Level 1 |
U.S. agency securities |
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14,138 |
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|
1 |
|
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(5 |
) |
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|
14,134 |
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Level 2 |
U.S. government securities |
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|
83,573 |
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|
92 |
|
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|
— |
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|
83,665 |
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Level 2 |
Total short-term investments |
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115,623 |
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|
94 |
|
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|
(9 |
) |
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|
115,708 |
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Total assets measured at fair value |
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$ |
239,880 |
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|
$ |
94 |
|
|
$ |
(21 |
) |
|
$ |
239,953 |
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| Amortized Costs and Fair Value of Marketable Debt Securities by Contractual Maturity |
The amortized costs and fair value of marketable debt securities (excluding cash and money market funds), by contractual maturity, at June 30, 2026 are as follows (in thousands):
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June 30, 2026 |
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Amortized Cost |
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Fair Value |
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Less than 1 year |
|
$ |
184,572 |
|
|
$ |
184,443 |
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1 to 5 years |
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|
- |
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|
- |
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Total |
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$ |
184,572 |
|
|
$ |
184,443 |
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