| Schedule of Assets Measured at Fair Value on Recurring Basis |
The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of June 30, 2026 and December 31, 2025 (in thousands):
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Fair Value Measurements at
June 30, 2026: |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Assets: |
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Cash equivalents |
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Money market fund |
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$ |
115,958 |
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$ |
— |
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$ |
— |
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$ |
115,958 |
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Commercial Paper |
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— |
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3,584 |
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— |
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3,584 |
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Marketable securities, current |
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US treasuries |
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145,934 |
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— |
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— |
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145,934 |
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US government agencies |
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— |
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118,104 |
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— |
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118,104 |
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Commercial Paper |
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— |
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9,160 |
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— |
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9,160 |
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Corporate bonds |
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— |
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293,310 |
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— |
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293,310 |
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Marketable securities, non-current |
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US treasuries |
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187,353 |
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— |
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— |
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187,353 |
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US government agencies |
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— |
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229,739 |
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— |
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229,739 |
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Corporate bonds |
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— |
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396,809 |
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— |
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396,809 |
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Restricted cash |
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5,822 |
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— |
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— |
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5,822 |
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Total |
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$ |
455,067 |
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$ |
1,050,706 |
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$ |
— |
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$ |
1,505,773 |
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Fair Value Measurements at
December 31, 2025: |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Assets: |
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Cash equivalents |
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Money market fund |
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$ |
299,067 |
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$ |
— |
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$ |
— |
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$ |
299,067 |
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Commercial Paper |
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— |
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16,616 |
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— |
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16,616 |
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Corporate bonds |
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— |
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14,355 |
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— |
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14,355 |
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Marketable securities, current |
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US treasuries |
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|
157,069 |
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— |
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— |
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157,069 |
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US government agencies |
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— |
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|
126,290 |
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— |
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|
126,290 |
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Commercial Paper |
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— |
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|
7,155 |
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— |
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|
7,155 |
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Corporate bonds |
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— |
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200,750 |
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— |
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200,750 |
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Marketable securities, non-current |
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US treasuries |
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160,500 |
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— |
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— |
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160,500 |
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US government agencies |
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— |
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|
164,618 |
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— |
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164,618 |
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Corporate bonds |
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— |
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|
446,041 |
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— |
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|
446,041 |
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Restricted cash |
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5,800 |
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— |
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— |
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|
5,800 |
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Total |
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$ |
622,436 |
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$ |
975,825 |
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$ |
— |
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$ |
1,598,261 |
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