| Summary of Financial Assets Measured at Fair Value |
The following tables set forth the fair value of the Company’s financial assets measured at fair value as of December 31, 2025 and December 31, 2024 in accordance with the fair value hierarchy (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Adjusted Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | Cash and Cash Equivalents | | Short-Term Investment | | Long-Term Investment | | Cash | $ | 40,593 | | | $ | — | | | $ | — | | | $ | 40,593 | | | $ | 40,593 | | | $ | — | | | $ | — | | | Level 1: | | | | | | | | | | | | | | | Money market funds | 50,652 | | | — | | | — | | | 50,652 | | | 50,652 | | | — | | | — | | | Total | $ | 91,245 | | | $ | — | | | $ | — | | | $ | 91,245 | | | $ | 91,245 | | | $ | — | | | $ | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Adjusted Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | Cash and Cash Equivalents | | Short-Term Investment | | Long-Term Investment | | Cash | $ | 30,431 | | | $ | — | | | $ | — | | | $ | 30,431 | | | $ | 30,431 | | | $ | — | | | $ | — | | | Level 1: | | | | | | | | | | | | | | | Money market funds | 145,671 | | | — | | | — | | | 145,671 | | | 145,671 | | | — | | | — | | | Level 2: | | | | | | | | | | | | | | | Treasury bills | 1,462 | | | 1 | | | — | | | 1,463 | | | — | | | 1,463 | | | — | | | US government bond | 33,567 | | | 61 | | | (9) | | | 33,619 | | | — | | | 26,566 | | | 7,053 | | | U.S. agency securities | 6,907 | | | — | | | (3) | | | 6,904 | | | — | | | — | | | 6,904 | | | Commercial paper | 10,670 | | | 2 | | | — | | | 10,672 | | | 1,248 | | | 9,424 | | | — | | | Corporate debt securities | 53,926 | | | 112 | | | (17) | | | 54,021 | | | — | | | 37,677 | | | 16,344 | | | Certificates of deposit | 3,009 | | | — | | | — | | | 3,009 | | | — | | | 3,009 | | | — | | | Subtotal | $ | 109,541 | | | $ | 176 | | | $ | (29) | | | $ | 109,688 | | | $ | 1,248 | | | $ | 78,139 | | | $ | 30,301 | | | Total | $ | 285,643 | | | $ | 176 | | | $ | (29) | | | $ | 285,790 | | | $ | 177,350 | | | $ | 78,139 | | | $ | 30,301 | |
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