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INVESTMENTS

9 Months Ended

Sep. 30, 2025

INVESTMENTS.

INVESTMENTS

3.INVESTMENTS

The following table summarizes the Company’s investments at September 30, 2025. The Company held no short-term or long-term investments at December 31, 2024.

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Continuous

Continuous

​

​

​

​

Gross

​

Gross

​

​

​

Unrealized

​

Unrealized

​

​

​

​

Unrealized

​

Unrealized

​

​

​

Loss Position

​

Loss Position

​

​

Amortized

​

Holding

​

Holding

​

Fair

​

less than

​

greater than

September 30, 2025

Cost

Gains

Losses

Value

12 Months

12 Months

Available-for-sale

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Short-term:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial paper

​

$

31,601

​

$

—

​

$

—

​

$

31,601

​

$

—

​

$

—

Certificates of deposit

​

15,444

​

—

​

—

​

15,444

​

—

​

—

U.S. treasuries

​

209,387

​

140

​

—

​

209,527

​

—

​

—

Corporate bonds

​

29,754

​

65

​

—

​

29,819

​

—

​

—

Long-term:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

U.S. treasuries

​

214,843

​

59

​

—

​

214,902

​

—

​

—

Corporate bonds

​

144,104

​

168

​

—

​

144,272

​

—

​

​

​

Total

​

$

645,133

​

$

432

​

$

—

​

$

645,565

​

$

—

​

$

—

​

During the three- and nine-months ended September 30, 2025 and 2024, realized gains or losses recognized on the sale of investments were not significant.

The Company’s investments at September 30, 2025 carried investment grade credit ratings.

The following table summarizes the underlying contractual maturities of the Company’s investments at September 30, 2025. The Company held no short-term or long-term investments at December 31, 2024.

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​	​	​	​	​	​	​
​		September 30, 2025
​		Amortized Cost			Fair Value
Less than 1 year:	​	​			​
Commercial paper	​	$	31,601	​	$	31,601
Certificates of deposit	​		15,444	​		15,444
U.S. treasuries	​		209,387	​		209,527
Corporate bonds	​		29,754	​		29,819
Due 1 - 10 years:	​		​	​		​
U.S. treasuries	​		214,843	​		214,902
Corporate bonds	​		144,104	​		144,272
Total	​	$	645,133	​	$	645,565

​

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- References

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 940
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/940-320/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph b
-Publisher SEC

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/320/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/942-320/tableOfContent

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