| Schedule of Fair Value, Assets Measured on Recurring Basis |
The following tables set forth the Company’s financial assets that were measured at fair value on a recurring basis by level within the fair value hierarchy utilized to determine such values (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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Assets: |
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|
|
|
|
|
|
|
|
|
|
|
Cash equivalents: |
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|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
22,203 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
22,203 |
|
Commercial paper |
|
|
— |
|
|
|
1,197 |
|
|
|
— |
|
|
|
1,197 |
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Total cash equivalents |
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|
22,203 |
|
|
|
1,197 |
|
|
|
— |
|
|
|
23,400 |
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Investments: |
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|
|
|
|
|
|
|
|
|
|
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U.S. Treasury securities |
|
|
— |
|
|
|
110,466 |
|
|
|
— |
|
|
|
110,466 |
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Commercial paper |
|
|
— |
|
|
|
11,469 |
|
|
|
— |
|
|
|
11,469 |
|
Corporate debt securities |
|
|
— |
|
|
|
61,474 |
|
|
|
— |
|
|
|
61,474 |
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Total investments |
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|
— |
|
|
|
183,409 |
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|
|
— |
|
|
|
183,409 |
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Total assets measured at fair value |
|
$ |
22,203 |
|
|
$ |
184,606 |
|
|
$ |
— |
|
|
$ |
206,809 |
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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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Assets: |
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|
|
|
|
|
|
|
|
|
|
|
Cash equivalents: |
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|
|
|
|
|
|
|
|
|
|
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Money market funds |
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$ |
41,832 |
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|
$ |
— |
|
|
$ |
— |
|
|
$ |
41,832 |
|
Commercial paper |
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|
— |
|
|
|
2,978 |
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|
|
— |
|
|
|
2,978 |
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Total cash equivalents |
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|
41,832 |
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|
|
2,978 |
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|
|
— |
|
|
|
44,810 |
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Investments: |
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|
|
|
|
|
|
|
|
|
|
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U.S. Treasury securities |
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|
— |
|
|
|
90,762 |
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|
|
— |
|
|
|
90,762 |
|
U.S. Non-Treasury securities |
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|
— |
|
|
|
2,374 |
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|
|
— |
|
|
|
2,374 |
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Commercial paper |
|
|
— |
|
|
|
13,563 |
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|
|
— |
|
|
|
13,563 |
|
Corporate debt securities |
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|
— |
|
|
|
86,599 |
|
|
|
— |
|
|
|
86,599 |
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Total investments |
|
|
— |
|
|
|
193,298 |
|
|
|
— |
|
|
|
193,298 |
|
Total assets measured at fair value |
|
$ |
41,832 |
|
|
$ |
196,276 |
|
|
$ |
— |
|
|
$ |
238,108 |
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|
| Schedule of Debt Securities, Available-for-sale, Unrealized Gain |
The following is a summary of the Company’s cash equivalents and investments and the gross unrealized holding gains and losses (in thousands):
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|
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|
|
|
June 30, 2026 |
|
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Amortized Cost Basis |
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Unrealized Gains |
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Unrealized Losses |
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|
Fair Value |
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Assets: |
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|
|
|
|
|
|
|
|
|
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
22,203 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
22,203 |
|
Commercial paper |
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|
1,197 |
|
|
|
— |
|
|
|
— |
|
|
|
1,197 |
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Total cash equivalents |
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|
23,400 |
|
|
|
— |
|
|
|
— |
|
|
|
23,400 |
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Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities |
|
|
110,733 |
|
|
|
19 |
|
|
|
(286 |
) |
|
|
110,466 |
|
Commercial paper |
|
|
11,479 |
|
|
|
— |
|
|
|
(10 |
) |
|
|
11,469 |
|
Corporate debt securities |
|
|
61,533 |
|
|
|
26 |
|
|
|
(85 |
) |
|
|
61,474 |
|
Total investments |
|
|
183,745 |
|
|
|
45 |
|
|
|
(381 |
) |
|
|
183,409 |
|
Total assets measured at fair value |
|
$ |
207,145 |
|
|
$ |
45 |
|
|
$ |
(381 |
) |
|
$ |
206,809 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Amortized Cost Basis |
|
|
Unrealized Gains |
|
|
Unrealized Losses |
|
|
Fair Value |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
41,832 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
41,832 |
|
Commercial paper |
|
|
2,978 |
|
|
|
— |
|
|
|
— |
|
|
|
2,978 |
|
Total cash equivalents |
|
|
44,810 |
|
|
|
— |
|
|
|
— |
|
|
|
44,810 |
|
Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities |
|
|
90,508 |
|
|
|
254 |
|
|
|
— |
|
|
|
90,762 |
|
U.S. Non-Treasury securities |
|
|
2,373 |
|
|
|
1 |
|
|
|
— |
|
|
|
2,374 |
|
Commercial paper |
|
|
13,555 |
|
|
|
8 |
|
|
|
— |
|
|
|
13,563 |
|
Corporate debt securities |
|
|
86,403 |
|
|
|
196 |
|
|
|
— |
|
|
|
86,599 |
|
Total investments |
|
|
192,839 |
|
|
|
459 |
|
|
|
— |
|
|
|
193,298 |
|
Total assets measured at fair value |
|
$ |
237,649 |
|
|
$ |
459 |
|
|
$ |
— |
|
|
$ |
238,108 |
|
|