| Schedule of Financial Instruments Measured at Fair Value on Recurring Basis |
The following table presents information about our financial instruments that are measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 and indicates the fair value category assigned. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at Reporting Date Using | | | Quoted Prices in
Active Markets for
Identical Assets | | Significant Other
Observable Inputs | | Significant
Unobservable
Inputs | | | | (In thousands) | | Level 1 | | Level 2 | | Level 3 | | Total | | As of June 30, 2026: | | | | | | | | | | Assets: | | | | | | | | | Money market funds(1)(2) | | $ | 40,466 | | | $ | — | | | $ | — | | | $ | 40,466 | | Certificate of deposit(2) | | 274 | | | — | | | — | | | 274 | | Municipal securities(3)(4) | | — | | | 7,017 | | | — | | | 7,017 | | U.S. Treasury securities(3) | | — | | | 21,881 | | | — | | | 21,881 | | Government-sponsored enterprises(3) | | — | | | 2,987 | | | — | | | 2,987 | | Commercial paper(1)(3) | | — | | | 86,358 | | | — | | | 86,358 | | Corporate notes(3)(4) | | — | | | 149,063 | | | — | | | 149,063 | | | Total | | $ | 40,740 | | | $ | 267,306 | | | $ | — | | | $ | 308,046 | | | Liabilities: | | | | | | | | | Sale of future royalties(5) | | — | | | — | | | 129,625 | | | 129,625 | | | Total | | $ | — | | | $ | — | | | $ | 129,625 | | | $ | 129,625 | | | As of December 31, 2025: | | | | | | | | | | Assets: | | | | | | | | | Money market funds(1)(2) | | $ | 50,557 | | | $ | — | | | $ | — | | | $ | 50,557 | | Certificate of deposit(2) | | 274 | | | — | | | — | | | 274 | | Municipal securities(3) | | — | | | 10,041 | | | — | | | 10,041 | | U.S. Treasury securities(3)(4) | | — | | | 22,951 | | | — | | | 22,951 | | Commercial paper(3) | | — | | | 84,382 | | | — | | | 84,382 | | Corporate notes(3)(4) | | — | | | 209,253 | | | — | | | 209,253 | | | Total | | $ | 50,831 | | | $ | 326,627 | | | $ | — | | | $ | 377,458 | | | Liabilities: | | | | | | | | | Sale of future royalties(5) | | — | | | — | | | 129,582 | | | 129,582 | | | Total | | $ | — | | | $ | — | | | $ | 129,582 | | | $ | 129,582 | |
_______________________________ (1)Included in cash and cash equivalents on our condensed consolidated balance sheets. (2)Included in restricted cash on our condensed consolidated balance sheets. (3)Included in current portion of marketable securities on our condensed consolidated balance sheets. (4)Included in noncurrent portion of marketable securities on our condensed consolidated balance sheets. (5)Included in current and noncurrent portion of liabilities related to sale of future royalties on our consolidated balance sheets.
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