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Investments (Tables)

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Investments

Available-for-sale investments consisted of the following as of March 31, 2025 and December 31, 2024 (in thousands):


		March 31, 2025
		Amortized Cost				Unrealized Gain				Unrealized Loss				Estimated Fair Value
Short-term marketable securities
U.S. government treasury securities		$	127,134			$	68			$	(42	)		$	127,160
Corporate bonds			15,610				8				—				15,618
Total short-term marketable securities		$	142,744			$	76			$	(42	)		$	142,778
Long-term marketable securities
U.S. government treasury securities		$	33,957			$	89			$	(1	)		$	34,045
Corporate bonds			5,298				12				—				5,310
Total long-term marketable securities		$	39,255			$	101			$	(1	)		$	39,355


		December 31, 2024
		Amortized Cost				Unrealized Gain				Unrealized Loss				Estimated Fair Value
Short-term marketable securities
Commercial paper		$	2,476			$	3			$	—			$	2,479
U.S. government treasury securities			153,353				211				(43	)			153,521
Corporate bonds			18,357				19				(2	)			18,374
Total short-term marketable securities		$	174,186			$	233			$	(45	)		$	174,374
Long-term marketable securities
U.S. government treasury securities		$	33,682			$	27			$	(49	)		$	33,660
Total long-term marketable securities		$	33,682			$	27			$	(49	)		$	33,660

Schedule of Gross Unrealized Holding Losses and Fair Values for Investments in Unrealized Loss Position

The following table presents the gross unrealized holding losses and fair values for investments in an unrealized loss position, and the length of time individual securities have been in a continuous loss position, as of March 31, 2025 (in thousands):


		Less Than 12 Months								12 Months Or Greater
		Fair Value				Unrealized Loss				Fair Value				Unrealized Loss
U.S. government treasury securities		$	51,178			$	(43	)		$	—			$	—
Total available-for-sale securities		$	51,178			$	(43	)		$	—			$	—