The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of June 30, 2026 (in thousands):


	Fair Value		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	78,341	$	78,341	$	—	$	—


Marketable securities:
Corporate debt securities	183,747		—		183,747		—
U.S. government debt securities	22,589		—		22,589		—
U.S. Treasury securities	15,503		—		15,503		—
Total cash equivalents and marketable securities	$	300,180	$	78,341	$	221,839	$	—

There have been no transfers between fair value levels during the six months ended June 30, 2026.

The following table sets forth the fair value of the Company’s financial assets by level within the fair value hierarchy at December 31, 2025 (in thousands):


	Fair Value		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	59,857	$	59,857	$	—	$	—
Corporate debt securities	11,476		—		11,476		—
U.S. government debt securities	3,000		—		3,000		—
Marketable securities:
Corporate debt securities	176,614		—		176,614		—
U.S. Treasury securities	29,130		—		29,130		—
U.S. government debt securities	16,753		—		16,753		—
Total cash equivalents and marketable securities	$	296,830	$	59,857	$	236,973	$	—