| Schedule of fair value of financial assets |
Recurring Fair Value Measurements The following tables present the Company’s fair value hierarchy for financial assets measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 (in thousands): | | | | | | | | | | | | | | | June 30, 2026 | | | Level 1 | | Level 2 | | Level 3 | | Total | Assets: | | | | | | | | | | | | | Cash equivalents | | | | | | | | | | | | | Money market funds | | $ | 58,709 | | $ | — | | $ | — | | $ | 58,709 | Marketable securities, current | | | | | | | | | | | | | U.S. Treasury obligations | | | 200,366 | | | 101,091 | | | — | | | 301,457 | Corporate debt obligations | | | — | | | 86,859 | | | — | | | 86,859 | Commercial paper | | | — | | | 48,274 | | | — | | | 48,274 | Supranational debt obligations | | | — | | | 1,997 | | | — | | | 1,997 | Total assets | | $ | 259,075 | | $ | 238,221 | | $ | — | | $ | 497,296 |
| | | | | | | | | | | | | | | December 31, 2025 | | | Level 1 | | Level 2 | | Level 3 | | Total | Assets: | | | | | | | | | | | | | Cash equivalents | | | | | | | | | | | | | Money market funds | | $ | 81,729 | | $ | — | | $ | — | | $ | 81,729 | U.S. Treasury obligations | | | 3,971 | | | — | | | — | | | 3,971 | Marketable securities, current | | | | | | | | | | | | | U.S. Treasury obligations | | | 110,809 | | | 37,673 | | | — | | | 148,482 | Corporate debt obligations | | | — | | | 30,743 | | | — | | | 30,743 | Commercial paper | | | — | | | 27,672 | | | — | | | 27,672 | Supranational debt obligations | | | — | | | 7,922 | | | — | | | 7,922 | Government development bank obligations | | | — | | | 4,012 | | | — | | | 4,012 | Total assets | | $ | 196,509 | | $ | 108,022 | | $ | — | | $ | 304,531 |
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