
	September 30, 2026
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value
Cash equivalents:
Money market funds	$	40,221	$	—	$	—	$	40,221
Commercial paper	25,959		—		(4)		25,955
U.S. treasury securities	14,946		—		(2)		14,944
Total cash equivalents	81,126		—		(6)		81,120
Short-term marketable securities:
U.S. government agency bonds	34,983		—		(97)		34,886
U.S. treasury securities	84,892		—		(76)		84,816
Commercial paper	94,399		3		(138)		94,264
Corporate bonds	35,703		—		(76)		35,627
Total short-term marketable securities	249,977		3		(387)		249,593
Total assets measured at fair value	$	331,103	$	3	$	(393)	$	330,713


	December 31, 2025
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value
Cash equivalents:
Money market funds	$	40,320	$	—	$	—	$	40,320
U.S. treasury securities	29,631		7		—		29,638
Total cash equivalents	69,951		7		—		69,958
Short-term marketable securities:
U.S. treasury securities	138,029		77		—		138,106
Total short-term marketable securities	138,029		77		—		138,106
Total assets measured at fair value	$	207,980	$	84	$	—	$	208,064

As of September 30, 2026 and December 31, 2025, the Company has not realized any impairment charges on its marketable securities related to expected credit losses. As of September 30, 2026 the aggregate difference between the amortized cost and fair value of each security in an unrealized loss position was attributed to market interest rate changes and is not related to changes in credit. The Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be at maturity. None of the available-for-sale securities held as of September 30, 2026 and December 31, 2025 have been in an unrealized loss position for more than one year. See Note 3 for further information regarding the fair value of the Company’s investments in marketable securities. Accrued interest receivable of $0.7 million as of September 30, 2026 is excluded from the amortized cost and estimated fair value amounts above and from the measurement of expected credit losses. As of September 30, 2026, all short-term marketable securities had contractual maturities of one year or less.