| Schedule of Financial Instruments Measured on Recurring Basis |
The following table sets forth our financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements as of June 30, 2026 | | Total | | Level 1 | | Level 2 | | Level 3 | | Assets: | | | | | | | | | U.S. Treasury bills | $ | 47,738 | | | $ | 47,738 | | | $ | — | | | $ | — | | | U.S. government agency bonds | 25,680 | | | — | | | 25,680 | | | — | | Commercial paper ($11,964 included in cash and cash equivalents) | 20,563 | | | | | 20,563 | | | — | | | Money market fund investments (included in cash and cash equivalents) | 14,230 | | | 14,230 | | | | | — | | | Corporate debt securities | 5,607 | | | — | | | 5,607 | | | — | | | Total fair value of assets | $ | 113,818 | | | $ | 61,968 | | | $ | 51,850 | | | $ | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements as of December 31, 2025 | | Total | | Level 1 | | Level 2 | | Level 3 | | Assets: | | | | | | | | U.S. Treasury bills | $ | 86,964 | | | $ | 86,964 | | | $ | — | | | $ | — | | U.S. government agency bonds | 28,717 | | | — | | | 28,717 | | | — | | | Money market fund investments (included in cash and cash equivalents) | 11,361 | | | 11,361 | | | — | | | — | | | Corporate debt securities | 8,663 | | | — | | | 8,663 | | | — | | Commercial paper ($999 included in cash and cash equivalents) | 7,140 | | | — | | | 7,140 | | | — | | | Total fair value of assets | $ | 142,845 | | | $ | 98,325 | | | $ | 44,520 | | | $ | — | |
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| Schedule of Fair Value and Amortized Cost of Cash Equivalents and Available-for-Sale Marketable Securities |
The fair value and amortized cost of cash equivalents and available-for-sale marketable securities by major security type as of June 30, 2026, and December 31, 2025, are presented in the following tables (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2026 | | Amortized Cost Basis | | Unrealized Gains | | Unrealized Losses | | Estimated Fair Value | | U.S. Treasury bills | $ | 47,766 | | | $ | 4 | | | $ | (32) | | | $ | 47,738 | | | U.S. government agency bonds | 25,711 | | | — | | | (31) | | | 25,680 | | Commercial paper ($11,964 included in cash and cash equivalents) | 20,566 | | | — | | | (3) | | | 20,563 | | Money market fund investments (included in cash and cash equivalents) | 14,230 | | | — | | | — | | | 14,230 | | | Corporate debt securities | 5,615 | | | — | | | (8) | | | 5,607 | | | Total cash equivalents and marketable securities | $ | 113,888 | | | $ | 4 | | | $ | (74) | | | $ | 113,818 | | | | | | | | | | | Classified as: | | | | | | | | | Cash and cash equivalents | | | | | | | $ | 26,194 | | | Marketable securities, short-term | | | | | | | 86,120 | | | Marketable securities, long-term | | | | | | | 1,504 | | | Total cash equivalents and marketable securities | | | | | | | $ | 113,818 | |
| | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2025 | | Amortized Cost Basis | | Unrealized Gains | | Unrealized Losses | | Estimated Fair Value | U.S. Treasury bills | $ | 86,872 | | | $ | 92 | | | $ | — | | | $ | 86,964 | | U.S. government agency bonds | 28,707 | | | 12 | | | (2) | | | 28,717 | | Money market fund investments (included in cash and cash equivalents) | 11,361 | | | — | | | — | | | 11,361 | | Corporate debt securities | 8,663 | | | 2 | | | (2) | | | 8,663 | | Commercial paper ($999 included in cash and cash equivalents) | 7,139 | | | 1 | | | — | | | 7,140 | | | Total cash equivalents and marketable securities | $ | 142,742 | | | $ | 107 | | | $ | (4) | | | $ | 142,845 | | | | | | | | | | | Classified as: | | | | | | | | | Cash and cash equivalents | | | | | | | $ | 12,360 | | | Marketable securities, short-term | | | | | | | 126,980 | | | Marketable securities, long-term | | | | | | | 3,505 | | | Total cash equivalents and marketable securities | | | | | | | $ | 142,845 | |
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