FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Cash Equivalents and Short-Term Investments

The following tables present the Company’s cash equivalents and short-term investments by significant investment category and fair value level as of September 30, 2026 and December 31, 2025 (in thousands):


	September 30, 2026
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Level 1:
Money market funds	$	29,631	$	—	$	—	$	29,631
U.S. government securities	157,025		—		(249)		156,776
Level 2:
Corporate paper	103,109		2		(197)		102,914
Total	$	289,765	$	2	$	(446)	$	289,321


	December 31, 2025
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Level 1:
Money market funds	$	35,710	$	—	$	—	$	35,710
U.S. government securities	136,310		125		—		136,435
Level 2:
Corporate paper	90,701		43		(10)		90,734
Total	$	262,721	$	168	$	(10)	$	262,879