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Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Summary of Fair Values of Financial Instruments

The fair values of the Company’s financial instruments are presented below (in thousands):

						Fair Value Measurements at June 30, 2026
		Total				Level 1				Level 2				Level 3
Financial assets carried at fair value:
Cash equivalents:		$	29,166			$	29,166			$	—			$	—
Short-term investments
Commercial paper, available-for-sale			42,246				—				42,246				—
Corporate debt securities, available-for-sale			301,198				—				301,198				—
Government debt securities, available-for-sale			32,469				—				32,469				—
Total financial assets		$	405,079			$	29,166			$	375,913			$	—

						Fair Value Measurements at December 31, 2025
		Total				Level 1				Level 2				Level 3
Financial assets carried at fair value:
Cash equivalents:		$	59,124			$	56,529			$	2,595			$	—
Short-term investments
Commercial paper, available-for-sale			12,713				—				12,713				—
Corporate debt securities, available-for-sale			490,114				—				490,114				—
Government debt securities, available-for-sale			37,102				—				37,102				—
Total financial assets		$	599,053			$	56,529			$	542,524			$	—

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- Definition

Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

+ 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

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

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- References

No definition available.

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