The following table summarizes the Company’s investments held (in thousands):


	September 30, 2026
	Amortized Cost		Unrealized Holding Gains		Unrealized Holding Losses			Fair Value
Cash equivalents:
United States treasuries	$	15,000	$	—	$	—		$	15,000
Short-term investments:
United States treasuries		229,821		—		(939	)		228,882
Long-term investments:
United States treasuries		114,459		—		(1,094	)		113,365
Total financial assets	$	359,280	$	—	$	(2,033	)	$	357,247


	December 31, 2025
	Amortized Cost		Unrealized Holding Gains		Unrealized Holding Losses		Fair Value
Short-term investments:
United States treasuries	$	169,662	$	279	$	—	$	169,941
Long-term investments:
United States treasuries		17,639		31		—		17,670
Total financial assets	$	187,301	$	310	$	—	$	187,611

As of September 30, 2026, the Company’s investments were in a net unrealized loss position of $2.0 million. These amounts are included in other comprehensive income (loss) in the condensed consolidated statements of operations and comprehensive loss. The Company determined that there was no material credit risk associated with its investments as of September 30, 2026. As of September 30, 2026, the Company’s investments had remaining maturities of two years or less.

As of December 31, 2025, the Company’s investments were in a net unrealized gain position of $0.3 million. These amounts are included in other comprehensive income (loss) in the condensed consolidated statements of operations and comprehensive loss. As of

December 31, 2025, there were no investments in an unrealized loss position. The Company determined that there was no material credit risk associated with its investments as of December 31, 2025. As a result, the Company did not record any charges for credit-related impairments for its investments during the year ended December 31, 2025. As of December 31, 2025, the Company’s investments had remaining maturities of two years or less.