| Schedule of Fair Value Instruments |
The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine the fair value (in thousands):
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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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|
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|
|
|
|
|
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Money market funds |
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$ |
104,762 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
104,762 |
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Current investments: |
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|
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|
|
|
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U.S. treasury securities |
|
|
— |
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|
|
111,361 |
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|
|
— |
|
|
|
111,361 |
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U.S. government-sponsored agency securities |
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|
8,294 |
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|
|
52,505 |
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|
|
— |
|
|
|
60,799 |
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Commercial paper |
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|
— |
|
|
|
3,939 |
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|
|
— |
|
|
|
3,939 |
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Corporate debt securities |
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|
164,191 |
|
|
|
13,665 |
|
|
|
— |
|
|
|
177,856 |
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Total |
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$ |
277,247 |
|
|
$ |
181,470 |
|
|
$ |
— |
|
|
$ |
458,717 |
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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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|
|
|
|
|
|
|
|
|
|
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Money market funds |
|
$ |
87,989 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
87,989 |
|
Current investments: |
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|
|
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
|
— |
|
|
|
54,927 |
|
|
|
— |
|
|
|
54,927 |
|
U.S. government-sponsored agency securities |
|
|
14,024 |
|
|
|
47,290 |
|
|
|
— |
|
|
|
61,314 |
|
Commercial paper |
|
|
— |
|
|
|
8,907 |
|
|
|
— |
|
|
|
8,907 |
|
Corporate debt securities |
|
|
109,075 |
|
|
|
13,497 |
|
|
|
— |
|
|
|
122,572 |
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Total |
|
$ |
211,088 |
|
|
$ |
124,621 |
|
|
$ |
— |
|
|
$ |
335,709 |
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