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Fair Value of Financial Instruments (Tables)

12 Months Ended

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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- References

No definition available.

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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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