The following table represents the Company’s available-for-sale investments by major security type (amounts in thousands):


	September 30, 2026
	Amortized Cost		Gross Unrealized Loss		Total Fair Value
Investments:
U.S. government securities	$	134,615	$	(62)	$	134,553
Cash equivalents:
U.S. government securities	30,004		—		30,004
Money market fund	27,978		—		27,978
Total	$	192,597	$	(62)	$	192,535


	December 31, 2025
	Amortized Cost		Gross Unrealized Gain		Total Fair Value
Investments:
U.S. government securities	$	23,867	$	6	$	23,873
Cash equivalents:
Money market fund	52,270		—		52,270
Total	$	76,137	$	6	$	76,143

The Company's money market funds are valued using Level 1 inputs and the Company's U.S. government securities are valued using Level 2 inputs. U.S. government securities outstanding as of December 31, 2025 matured in January 2026. There were no impairments of U.S. government securities or money market funds for the three and nine months ended September 30, 2026 and the year ended December 31, 2025.

The Company has a related party investment in a private company’s preferred stock. The Company did not identify any impairment indicators or observable price changes for this investment as of September 30, 2026. The Company had no other investments held at September 30, 2026 other than those included in the table above and the related party investment in a private company's preferred stock.