| Schedule of Financial Assets Measured at Fair Value on Recurring Basis |
Financial assets subject to fair value measurements on a recurring basis and the level of inputs used in such measurements by major security type as of June 30, 2026 and as of December 31, 2025 are presented in the following tables:
| | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Level 1 | | Level 2 | | Level 3 | | Fair Value | | (In thousands) | | Financial Assets: | | | | | | | | | Money market funds (1) | $ | 34,201 | | | $ | — | | | $ | — | | | $ | 34,201 | | | Commercial paper | — | | | 142,502 | | | — | | | 142,502 | | | Corporate bonds | — | | | 84,488 | | | — | | | 84,488 | | | U.S. treasury securities | 127,105 | | | — | | | — | | | 127,105 | | | U.S. agency securities | — | | | 30,869 | | | — | | | 30,869 | | | | | | | | | | | Total financial assets | $ | 161,306 | | | $ | 257,859 | | | $ | — | | | $ | 419,165 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Level 1 | | Level 2 | | Level 3 | | Fair Value | | (In thousands) | | Financial Assets: | | | | | | | | | Money market funds (1) | $ | 48,576 | | | $ | — | | | $ | — | | | $ | 48,576 | | | Commercial paper | — | | | 42,704 | | | — | | | 42,704 | | | Corporate bonds | — | | | 53,705 | | | — | | | 53,705 | | | U.S. treasury securities | 76,157 | | | — | | | — | | | 76,157 | | | U.S. agency securities | — | | | 33,999 | | | — | | | 33,999 | | | | | | | | | | | Total financial assets | $ | 124,733 | | | $ | 130,408 | | | $ | — | | | $ | 255,141 | |
(1)Included within cash and cash equivalents on the Company’s condensed balance sheets.
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