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Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets Measured at Fair Value | The following tables summarize the Company’s financial assets measured at fair value as of September 30, 2025 and December 31, 2024 and indicate the fair value hierarchy of the valuation:
|  |  |  | Fair Value at Reporting Date Using
(in thousands) |  | September 30, 2025 |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Cash equivalents(1) |  | $ | 42,064 |  |  | $ | 42,064 |  |  | $ | — |  |  | $ | — |
Marketable securities: |  |  |  |  |  |  |  |
Corporate bonds |  | 9,679 |  |  | — |  |  | 9,679 |  |  | — |
Commercial paper |  | 985 |  |  | — |  |  | 985 |  |  | — |
U.S. Treasury debt securities |  | 21,940 |  |  | 21,940 |  |  | — |  |  | — |
International debt securities |  | 992 |  |  | — |  |  | 992 |  |  | — |
Total marketable securities |  | 33,596 |  |  | 21,940 |  |  | 11,656 |  |  | — |
Total assets |  | $ | 75,660 |  |  | $ | 64,004 |  |  | $ | 11,656 |  |  | $ | — |
(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, 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.

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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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