FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Cash Equivalents and Short-Term Investments

The following tables present the Company’s cash equivalents and short-term investments by significant investment category and fair value level as of June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Level 1:
Money market funds	$	29,390	$	—	$	—	$	29,390
U.S. government securities	137,017		1		(113)		136,905
Level 2:
Corporate paper	90,801		—		(90)		90,711
Total	$	257,208	$	1	$	(203)	$	257,006


	December 31, 2025
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Level 1:
Money market funds	$	35,710	$	—	$	—	$	35,710
U.S. government securities	136,310		125		—		136,435
Level 2:
Corporate paper	90,701		43		(10)		90,734
Total	$	262,721	$	168	$	(10)	$	262,879