INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the Group’s financial assets measured and recorded at fair value on a recurring basis as of June 30, 2026 and December 31, 2025:


		As of June 30, 2026
		Active market				Observable input				Unobservable input
		(Level 1)				(Level 2)				(Level 3)				Total
Assets:
Investments at fair value, equity securities		$	—			$	—			$	25,057			$	25,057


		December 31, 2025
		Active market				Observable input				Unobservable input
		(Level 1)				(Level 2)				(Level 3)				Total
Assets:
Investments at fair value, equity securities		$	—			$	—			$	37,241			$	37,241

Summary of Roll Forward of Major Level 3 Financial Assets and Financial Liability

The roll forward of major Level 3 financial assets are as follows:


		Investments in available-for-sale				Investments in
		debt securities				equity securities
Fair value of Level 3 financial assets as of December 31, 2024		$	30,824			$	—
Fair value change of available-for-sale debt securities			3,644				—
Fair value of Level 3 financial assets as of June 30, 2025		$	34,468			$	—

Fair value of Level 3 financial assets as of December 31, 2025		$	—		(1)	$	37,241
Disposal of investments, equity securities							(12,905	)
Total gains included in earnings			—				173
Total gains included in other comprehensive income			—				548
Fair value of Level 3 financial assets as of June 30, 2026		$	—			$	25,057

(1) On October 31, 2025 (the “Amendment Date”), the Group executed a Supplemental Agreement with TJ Biopharma. As a result of this amendment, effective on the Amendment Date, the Group reclassified its investment in TJ Biopharma preferred shares from available-for-sale debt securities to equity securities.