v3.26.1
Fair Value Measurements and Investments (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Investments Subject to Fair Value Measurements on a Recurring Basis

The following tables set forth the fair value of the Company’s investments subject to fair value measurements on a recurring basis and the level of inputs used in such measurements:

 

 

 

 

June 30, 2026

 

Valuation
Hierarchy

 

Amortized
Cost

 

 

Gross
Unrealized
Gains (Losses)

 

 

Aggregate
Fair Value

 

 

 

 

(in thousands)

 

Assets

 

 

 

 

 

 

 

 

 

 

Money market funds

Level I

 

$

17,031

 

 

$

 

 

$

17,031

 

Restricted cash (money market funds)

Level I

 

 

1,527

 

 

 

 

 

 

1,527

 

U.S. Treasury securities

Level II

 

 

313,252

 

 

 

(196

)

 

 

313,056

 

Total

 

 

$

331,810

 

 

$

(196

)

 

$

331,614

 

 

 

 

 

December 31, 2025

 

 

 

Valuation
Hierarchy

 

Amortized
Cost

 

 

Gross
Unrealized
Gains (Losses)

 

 

Aggregate
Fair Value

 

 

 

 

 

(in thousands)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

Level I

 

$

12,775

 

 

$

 

 

$

12,775

 

Restricted cash (money market funds)

 

Level I

 

 

1,527

 

 

 

 

 

 

1,527

 

U.S. Treasury securities

 

Level II

 

 

124,274

 

 

 

111

 

 

 

124,385

 

Total

 

 

 

$

138,576

 

 

$

111

 

 

$

138,687