v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Measurements  
Schedule of Financial Assets and Liabilities Measured on a Recurring Basis

Fair Value Measurements

June 30, 2026

(in thousands)

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

Financial Assets:

 

 

  ​

 

  ​

 

  ​

Cash equivalents(1)

$

68,772

$

12,473

$

$

81,245

Marketable debt securities:

 

 

 

 

Commercial paper and corporate notes

22,383

22,383

Total

$

68,772

$

34,856

$

$

103,628

Financial Liabilities:

 

 

  ​

 

  ​

 

  ​

Royalty Fee Derivative Liability

$

$

$

1,490

$

1,490

Fair Value Measurements

December 31, 2025

(in thousands)

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

Financial Assets:

 

 

  ​

 

  ​

 

  ​

Cash equivalents(1)

$

78,278

$

1,708

$

$

79,986

Marketable debt securities:

 

 

 

 

U.S. government agency securities

3,803

3,803

U.S. treasury securities

42,303

42,303

Commercial paper and corporate notes

37,140

37,140

Total

$

124,384

$

38,848

$

$

163,232

Financial Liabilities:

Royalty Fee Derivative Liability

$

$

$

1,490

$

1,490

(1)Cash equivalents may include the following: money market funds, U.S. treasury securities, commercial paper or corporate notes with original maturities of 90 days or less.
Schedule of Cash and cash equivalents, marketable securities and restricted cash

June 30, 2026

(in thousands)

  ​ ​ ​

Cost

  ​ ​ ​

Unrealized Gain

  ​ ​ ​

Unrealized (Loss)

  ​ ​ ​

Fair Value

Money market funds

$

68,772

$

$

$

68,772

Commercial paper and corporate notes

34,861

1

(6)

34,856

Total

$

103,633

 

$

1

$

(6)

$

103,628

December 31, 2025

(in thousands)

  ​ ​ ​

Cost

  ​ ​ ​

Unrealized Gain

  ​ ​ ​

Unrealized (Loss)

  ​ ​ ​

Fair Value

Money market funds

$

78,278

$

$

$

78,278

U.S. government agency securities

3,800

 

3

3,803

U.S. treasury securities

42,257

46

42,303

Commercial paper and corporate notes

38,817

31

38,848

Total

$

163,152

 

$

80

$

$

163,232