v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements of Cash Equivalents, Available-For-Sale Investment Securities and Equity Securities

The recurring fair value measurements of the Company’s financial assets and liabilities measured at June 30, 2026 and December 31, 2025 consisted of the following (in thousands):

 

 

 

 

 

 

Fair Value Measurements at
Reporting Date Using

 

 

 

June 30,
2026

 

 

Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market fund

 

$

170,503

 

 

$

170,503

 

 

$

 

 

$

 

U.S. Treasury notes

 

 

391,444

 

 

 

391,444

 

 

 

 

 

 

 

Government sponsored enterprise securities

 

 

189,995

 

 

 

 

 

 

189,995

 

 

 

 

    Total

 

$

751,942

 

 

$

561,947

 

 

$

189,995

 

 

$

 

 

 

 

 

 

 

Fair Value Measurements at
Reporting Date Using

 

 

 

December 31,
2025

 

 

Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market fund

 

$

24,834

 

 

$

24,834

 

 

$

 

 

$

 

U.S. Treasury notes

 

 

430,551

 

 

 

430,551

 

 

 

 

 

 

 

Government sponsored enterprise securities

 

 

211,440

 

 

 

 

 

 

211,440

 

 

 

 

    Total

 

$

666,825

 

 

$

455,385

 

 

$

211,440

 

 

$