Assets and liabilities measured at fair value at each balance sheet date are as follows (in thousands):


	September 30, 2026
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	56,541	$	—	$	—	$	56,541
U.S. government treasuries	9,998		—		—		9,998

Short-term marketable securities:
U.S. government treasuries	322,971		—		—		322,971

Corporate debt securities	—		90,355		—		90,355

Long-term marketable securities:
U.S. government treasuries	336,811		—		—		336,811

Corporate debt securities	—		154,565		—		154,565
Total	$	726,321	$	244,920	$	—	$	971,241


	December 31, 2025
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	149,874	$	—	$	—	$	149,874

Commercial paper	—		24,899		—		24,899
Short-term marketable securities:
U.S. government treasuries	600,084		—		—		600,084

Corporate debt securities	—		62,469		—		62,469

Long-term marketable securities:
U.S. government treasuries	58,545		—		—		58,545
Corporate debt securities	—		39,777		—		39,777

Total	$	808,503	$	127,145	$	—	$	935,648