Fair Value of Financial Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value of Financial Assets and Liabilities

Schedule of summary of the assets and liabilities measured at fair value on a recurring basis

The following tables summarize the assets and liabilities measured at fair value on a recurring basis at June 30, 2026 and December 31, 2025 (in thousands):


		Fair Value Measurements at June 30, 2026
		Total			Level 1				Level 2				Level 3
Assets:
Cash and cash equivalents:
Money market funds		$	217,532			$	217,532			$	—			$	—
U.S. treasury obligations			199,491				199,491				—				—
Marketable securities:
U.S. treasury obligations and government agency securities			54,997				54,997				—				—
Total assets		$	472,020			$	472,020			$	—			$	—


	Fair Value Measurements at December 31, 2025
		Total			Level 1				Level 2				Level 3
Assets:
Cash and cash equivalents:
Money market funds		$	309,089			$	309,089			$	—			$	—
Marketable securities:
U.S. treasury obligations and government agency securities			44,036				44,036				—				—
Total assets		$	353,125			$	353,125			$	—			$	—