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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets Measured at Fair Value | The following table presents information about the Company’s financial assets that are measured at fair value and indicates the fair value hierarchy of the valuation:
|  | March 31, 2025 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | (in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 247,266 |  |  | $ | 247,266 |  |  | $ | — |  |  | $ | — |
Commercial paper |  |  | 210,544 |  |  |  | — |  |  |  | 210,544 |  |  |  | — |
Certificates of deposit |  |  | 3,836 |  |  |  | — |  |  |  | 3,836 |  |  |  | — |
U.S. government and agency securities |  |  | 957,821 |  |  |  | — |  |  |  | 957,821 |  |  |  | — |
Corporate bonds |  |  | 684,991 |  |  |  | — |  |  |  | 684,991 |  |  |  | — |
Total |  | $ | 2,104,458 |  |  | $ | 247,266 |  |  | $ | 1,857,192 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Warrant liabilities |  |  | 750 |  |  |  | 420 |  |  |  | 330 |  |  |  | — |
Total |  | $ | 750 |  |  | $ | 420 |  |  | $ | 330 |  |  | $ | — |
|  | December 31, 2024 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | (in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 409,233 |  |  | $ | 409,233 |  |  | $ | — |  |  | $ | — |
Commercial paper |  |  | 245,658 |  |  |  | — |  |  |  | 245,658 |  |  |  | — |
Certificates of deposit |  |  | 9,048 |  |  |  | — |  |  |  | 9,048 |  |  |  | — |
U.S. government and agency securities |  |  | 1,051,754 |  |  |  | — |  |  |  | 1,051,754 |  |  |  | — |
Corporate bonds |  |  | 571,654 |  |  |  | — |  |  |  | 571,654 |  |  |  | — |
Total |  | $ | 2,287,347 |  |  | $ | 409,233 |  |  | $ | 1,878,114 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Warrant liabilities |  |  | 3,189 |  |  |  | 1,784 |  |  |  | 1,405 |  |  |  | — |
Total |  | $ | 3,189 |  |  | $ | 1,784 |  |  | $ | 1,405 |  |  | $ | — |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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