| Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of fair value hierarchy utilized to determine such values (in thousands):
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AS OF JUNE 30, 2026 |
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LEVEL 1 |
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LEVEL 2 |
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LEVEL 3 |
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TOTAL |
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Cash equivalents: |
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Money market funds |
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$ |
95,898 |
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$ |
— |
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$ |
— |
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$ |
95,898 |
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U.S. treasury securities |
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|
— |
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— |
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|
— |
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— |
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Marketable securities: |
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U.S. treasury securities |
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635,850 |
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— |
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— |
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635,850 |
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Debt securities issued by U.S. government agencies |
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— |
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71,003 |
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— |
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71,003 |
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Commercial paper |
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— |
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106,221 |
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— |
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106,221 |
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Corporate debt securities |
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— |
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375,224 |
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— |
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|
375,224 |
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Total |
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$ |
731,748 |
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$ |
552,448 |
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$ |
— |
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$ |
1,284,196 |
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AS OF DECEMBER 31, 2025 |
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LEVEL 1 |
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LEVEL 2 |
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LEVEL 3 |
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TOTAL |
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Cash equivalents: |
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Money market funds |
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$ |
86,669 |
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$ |
— |
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$ |
— |
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|
$ |
86,669 |
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U.S. treasury securities |
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|
5,903 |
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— |
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— |
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|
5,903 |
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Commercial paper |
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— |
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26,428 |
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— |
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26,428 |
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Marketable securities: |
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U.S. treasury securities |
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|
350,157 |
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|
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— |
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— |
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|
350,157 |
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Debt securities issued by U.S. government agencies |
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— |
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142,716 |
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— |
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|
142,716 |
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Commercial paper |
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— |
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|
69,556 |
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— |
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|
69,556 |
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Corporate debt securities |
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— |
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208,944 |
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— |
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|
208,944 |
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Total |
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$ |
442,729 |
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$ |
447,644 |
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$ |
— |
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$ |
890,373 |
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