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FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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Jun. 30, 2026
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of June 30, 2026 (in thousands):
|  |  |  |  | Fair Value Measurements, Using |
|  | Total Carrying Value as of June 30, 2026 |  |  | Quoted Prices in Active Markets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Long-term U.S. Government bonds |  | $ | 383,229 |  |  | $ | 383,229 |  |  | $ | — |  |  | $ | — |
Short-term U.S. Government bonds |  |  | 345,019 |  |  |  | 345,019 |  |  |  | — |  |  |  | — |
Cash equivalents |  |  | 44,134 |  |  |  | 44,134 |  |  |  | — |  |  |  | — |
Short-term marketable equity securities |  |  | 1,256 |  |  |  | 1,256 |  |  |  | — |  |  |  | — |
Convertible notes |  |  | 2,000 |  |  |  | — |  |  |  | — |  |  |  | 2,000 |
The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of December 31, 2025 (in thousands):
|  |  |  |  | Fair Value Measurements, Using |
|  | Total Carrying Value as of December 31, 2025 |  |  | Quoted Prices in Active Markets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Long-term U.S. Government bonds |  | $ | 352,987 |  |  | $ | 352,987 |  |  | $ | — |  |  | $ | — |
Short-term U.S. Government bonds |  |  | 455,398 |  |  |  | 455,398 |  |  |  | — |  |  |  | — |
Cash equivalents |  |  | 27,461 |  |  |  | 27,461 |  |  |  | — |  |  |  | — |
Short-term marketable equity securities |  |  | 8,606 |  |  |  | 8,606 |  |  |  | — |  |  |  | — |
Convertible notes |  |  | 2,000 |  |  |  | — |  |  |  | — |  |  |  | 2,000 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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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