| Summary of Financial Assets Measured at Fair Value on Recurring Basis |
The following tables summarize the Company’s financial assets measured at fair value on a recurring basis and their respective input levels based on the fair value hierarchy described in Note 2 to the audited financial statements included in the Company’s 2025 10-K (in thousands):
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Amount |
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Fair Value Measurements Using |
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| As of 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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| Assets |
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| Money market funds (1) |
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$ |
16,304 |
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|
$ |
16,304 |
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|
$ |
— |
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|
$ |
— |
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| U.S. government obligations (2) |
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|
52,413 |
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|
|
— |
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|
|
52,413 |
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|
|
— |
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|
|
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|
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|
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| Total fair value of assets |
|
$ |
68,717 |
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|
$ |
16,304 |
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|
$ |
52,413 |
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|
$ |
— |
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| (1) |
Included in cash and cash equivalents on the balance sheets. |
| (2) |
Included in short-term investments on the balance sheets. |
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| |
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|
Fair Value Measurements Using |
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| |
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$ |
16,100 |
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|
$ |
16,100 |
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|
$ |
— |
|
|
$ |
— |
|
U.S. government obligations (2) |
|
|
89,713 |
|
|
|
— |
|
|
|
89,713 |
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|
|
— |
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|
|
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|
|
|
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|
|
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|
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|
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|
Total fair value of assets |
|
$ |
105,813 |
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|
$ |
16,100 |
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|
$ |
89,713 |
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|
$ |
— |
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|
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|
|
|
|
|
|
|
|
|
|
| (1) |
Included in cash and cash equivalents on the balance sheets. |
| (2) |
Included in short-term investments on the balance sheets. |
|
The following tables summarize the Company’s financial assets measured at fair value on a recurring basis and their respective input levels based on the fair value hierarchy described in Note 2 above (in thousands):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
Fair Value Measurements Using |
|
| As of December 31, 2025 |
|
Amount |
|
|
Level 1 |
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|
Level 2 |
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|
Level 3 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Money market funds (1) |
|
$ |
16,100 |
|
|
$ |
16,100 |
|
|
$ |
— |
|
|
$ |
— |
|
| U.S. government obligations (2) |
|
|
89,713 |
|
|
|
— |
|
|
|
89,713 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Total fair value of assets |
|
$ |
105,813 |
|
|
$ |
16,100 |
|
|
$ |
89,713 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Included in cash and cash equivalents on the balance sheets. |
| (2) |
Included in short-term investments on the balance sheets. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
Fair Value Measurements Using |
|
| As of December 31, 2024 |
|
Amount |
|
|
Level 1 |
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|
Level 2 |
|
|
Level 3 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Money market funds (1) |
|
$ |
24,889 |
|
|
$ |
24,889 |
|
|
$ |
— |
|
|
$ |
— |
|
| U.S. government obligations (2) |
|
|
118,289 |
|
|
|
— |
|
|
|
118,289 |
|
|
|
— |
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| Corporate debt securities (2) |
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|
7,238 |
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|
|
— |
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|
7,238 |
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|
|
— |
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|
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|
|
|
|
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|
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| Total fair value of assets |
|
$ |
150,416 |
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|
$ |
24,889 |
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|
$ |
125,527 |
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|
$ |
— |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Included in cash and cash equivalents on the balance sheets. |
| (2) |
Included in short-term investments on the balance sheets. |
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