| Summary of Financial Assets Fair Value Measurement on Recurring Basis |
The following table presents the Company’s financial assets, which consist of cash equivalents and investments classified as available-for-sale investments, that are measured at fair value on a recurring basis (in thousands):
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June 30, 2026 |
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Level |
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Amortized Cost |
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Unrealized Gain |
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Unrealized Loss |
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Estimated Fair Value |
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Cash equivalents: |
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Money market funds |
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Level 1 |
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$ |
26,727 |
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$ |
— |
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$ |
— |
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$ |
26,727 |
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Short-term investments: |
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U.S. Treasury securities |
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Level 1 |
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10,259 |
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3 |
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(3 |
) |
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10,259 |
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Commercial paper |
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Level 2 |
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13,436 |
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— |
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(10 |
) |
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13,426 |
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U.S. Government agency securities |
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Level 2 |
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|
495 |
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— |
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— |
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|
495 |
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Corporate debt securities |
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Level 2 |
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9,901 |
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— |
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(12 |
) |
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9,889 |
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Long-term investments: |
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U.S. Treasury securities |
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Level 2 |
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1,470 |
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— |
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(1 |
) |
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|
1,469 |
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Total |
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$ |
62,288 |
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$ |
3 |
|
|
$ |
(26 |
) |
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$ |
62,265 |
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December 31, 2025 |
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|
Level |
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Amortized Cost |
|
|
Unrealized Gain |
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|
Unrealized Loss |
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|
Estimated Fair Value |
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Cash equivalents: |
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Money market funds |
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Level 1 |
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$ |
7,104 |
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$ |
— |
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$ |
— |
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$ |
7,104 |
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Commercial paper |
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Level 2 |
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|
547 |
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|
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— |
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— |
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|
547 |
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Short-term investments: |
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U.S. Treasury securities |
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Level 1 |
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22,792 |
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49 |
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— |
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22,841 |
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U.S. Treasury securities |
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Level 2 |
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3,956 |
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8 |
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— |
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3,964 |
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Commercial paper |
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Level 2 |
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6,812 |
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2 |
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(4 |
) |
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6,810 |
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U.S. Government agency securities |
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Level 2 |
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|
487 |
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1 |
|
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— |
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|
488 |
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Corporate debt securities |
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Level 2 |
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3,958 |
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— |
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(1 |
) |
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|
3,957 |
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Long-term investments: |
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U.S. Treasury securities |
|
Level 1 |
|
|
1,506 |
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2 |
|
|
|
— |
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|
|
1,508 |
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Corporate debt securities |
|
Level 2 |
|
|
505 |
|
|
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— |
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— |
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|
505 |
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Total |
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$ |
47,667 |
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$ |
62 |
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$ |
(5 |
) |
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$ |
47,724 |
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