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Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table summarizes the Company’s financial assets measured at fair value as of December 31, 2024 and 2023 and indicates the fair value hierarchy of the valuation:
|  |  |  | Fair Value at Reporting Date Using
(in thousands) |  | December 31, 2024 |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Cash equivalents(1) |  | $ | 62,434 |  |  | $ | 62,434 |  |  | $ | — |  |  | $ | — |
Marketable securities: |  |  |  |  |  |  |  |
Corporate bonds |  | 4,368 |  |  | — |  |  | 4,368 |  |  | — |
Commercial paper |  | 1,580 |  |  | — |  |  | 1,580 |  |  | — |
U.S. Treasury debt securities |  | 15,427 |  |  | 15,427 |  |  | — |  |  | — |
Total marketable securities |  | 21,375 |  |  | 15,427 |  |  | 5,948 |  |  | — |
Total Assets |  | $ | 83,809 |  |  | $ | 77,861 |  |  | $ | 5,948 |  |  | $ | — |
(1) Includes insured cash sweep account, cash sweep account, money market account and money market funds that have investments primarily in U.S. Government Agency debt, U.S. Treasury debt, U.S. Treasury Repurchase Agreements, U.S. Government Agency Repurchase Agreements, and corporate bonds that have a maturity of three months or less from the original acquisition date.
|  |  |  | Fair Value at Reporting Date Using
(in thousands) |  | December 31, 2023 |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Cash equivalents(1) |  | $ | 34,463 |  |  | $ | 34,463 |  |  | $ | — |  |  | $ | — |
Marketable securities: |  |  |  |  |  |  |  |
Corporate bonds |  | 16,206 |  |  | — |  |  | 16,206 |  |  | — |
Commercial paper |  | 7,279 |  |  | — |  |  | 7,279 |  |  | — |
U.S. government-sponsored enterprise securities |  | 3,500 |  |  | — |  |  | 3,500 |  |  | — |
U.S. Treasury debt securities |  | 22,067 |  |  | 22,067 |  |  | — |  |  | — |
International debt securities |  | 2,144 |  |  | — |  |  | 2,144 |  |  | — |
Total marketable securities |  | 51,196 |  |  | 22,067 |  |  | 29,129 |  |  | — |
Total Assets |  | $ | 85,659 |  |  | $ | 56,530 |  |  | $ | 29,129 |  |  | $ | — |
(1) Includes insured cash sweep account, cash sweep account, money market account and money market funds that have investments primarily in U.S. Government Agency debt, U.S. Treasury debt, U.S. Treasury Repurchase Agreements, U.S. Government Agency Repurchase Agreements and corporate bonds that have a maturity of three months or less from the original acquisition date.

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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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