Items measured at fair value on a recurring basis are the Company’s investments. The following table sets forth the Company’s financial investments that were measured at fair value on a recurring basis by level within the fair value hierarchy as well as amortized cost of investments:


			Fair Value Measurements as of June 30, 2026, Using:
	Amortized Cost		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market mutual funds	$	40,953	$	40,953	$	-	$	-	$	40,953
U.S. Treasury securities		-		-		-		-		-
		40,953		40,953		-		-		40,953

Investments:
U.S. Treasury securities		59,246		-		59,240		-		59,240
		59,246		-		59,240		-		59,240

Total assets	$	100,199	$	40,953	$	59,240	$	-	$	100,193

			Fair Value Measurements as of December 31, 2025, Using:
	Amortized Cost		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market mutual funds	$	22,090	$	22,090	$	-	$	-	$	22,090
U.S. Treasury securities		41,919		-		41,918		-		41,918
		64,009		22,090		41,918		-		64,008

Investments:
U.S. Treasury securities		111,309		-		111,371		-		111,371
		111,309		-		111,371		-		111,371

Total assets	$	175,318	$	22,090	$	153,289	$	-	$	175,379

The amortized cost for marketable debt securities approximated its fair value and these securities matures within one year as of both June 30, 2026 and December 31, 2025.

The Company classifies its money market mutual funds as Level 1 assets under the fair value hierarchy, as these assets have been valued using quoted market prices in active markets without any valuation adjustment. The Company classifies its U.S. Treasury Securities as Level 2 assets as these assets are not traded in an active market and have been valued through a third-party pricing service based on quoted prices for similar assets.