FINANCIAL INSTRUMENTS (Tables)

The following table sets forth the fair value of our financial assets that were measured on a recurring basis:


	September 30, 2026								December 31, 2025
(In thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents	$	55,108	$	799	$	—	$	55,907	$	60,496	$	3,211	$	—	$	63,707
Investments:

Corporate debt securities	—		15,629		—		15,629		—		23,250		—		23,250
U.S. government & agency securities	—		127,882		—		127,882		—		192,549		—		192,549
Total investments	—		143,511		—		143,511		—		215,799		—		215,799

Short-term restricted cash	33		—		—		33		20		—		—		20
Long-term restricted cash	1,629		—		—		1,629		1,532		—		—		1,532
Total assets measured at fair value	$	56,770	$	144,310	$	—	$	201,080	$	62,048	$	219,010	$	—	$	281,058

The following tables summarize our cash, cash equivalents, restricted cash, and investments:


	As of September 30, 2026
(In thousands)	Amortized Cost		Gross unrealized gains		Gross unrealized losses		Fair Value
Cash and cash equivalents	$	55,907	$	—	$	—	$	55,907
Investments:

Corporate debt securities	15,735		3		(109)		15,629
U.S. government & agency securities	128,595		—		(713)		127,882
Total investments	144,330		3		(822)		143,511
Total cash, cash equivalents and investments	$	200,237	$	3	$	(822)	$	199,418

Short-term restricted cash	$	33	$	—	$	—	$	33
Long-term restricted cash	$	1,629	$	—	$	—	$	1,629

	As of December 31, 2025
(In thousands)	Amortized Cost		Gross unrealized gains		Gross unrealized losses		Fair Value
Cash and cash equivalents	$	63,707	$	—	$	—	$	63,707
Investments:

Corporate debt securities	23,172		78		—		23,250
U.S. government & agency securities	192,170		380		(1)		192,549
Total investments	215,342		458		(1)		215,799
Total cash, cash equivalents and investments	$	279,049	$	458	$	(1)	$	279,506

Short-term restricted cash	$	20	$	—	$	—	$	20
Long-term restricted cash	$	1,532	$	—	$	—	$	1,532

The following table summarizes the contractual maturities of our cash equivalents and available-for-sale investments, excluding money market funds, as of September 30, 2026:


(In thousands)	Fair Value
Due in one year or less	$	109,896
Due after one year through five years	34,414
Total	$	144,310