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Cash, Cash Equivalents and Short-Term Investments | 12 Months Ended
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Dec. 31, 2024
Cash and Cash Equivalents [Abstract] |
Cash, Cash Equivalents and Short-Term Investments | CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS Securities classified as cash, cash equivalents and short-term investments as of December 31, 2024 and 2023 were as follows:
| December 31, 2024
|  |  | Gross Unrealized |  |
(in thousands) | Amortized Cost |  | Gains |  | Losses |  | Fair Value
Cash and cash equivalents |  |  |  |  |  |  |
Cash | $ | 16,282 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,282 |
Money market funds | 48,650 |  |  | — |  |  | — |  |  | 48,650 |
Total cash and cash equivalents | 64,932 |  |  | — |  |  | — |  |  | 64,932 |
Short-term investments |  |  |  |  |  |  |
U.S. treasury securities | $ | 79,720 |  |  | $ | 58 |  |  | $ | (5) |  |  | $ | 79,773 |
U.S. government-sponsored agency bonds | 45,960 |  |  | 29 |  |  | (27) |  |  | 45,962 |
Commercial paper | 37,061 |  |  | 19 |  |  | (15) |  |  | 37,065 |
Corporate bonds | 17,415 |  |  | 4 |  |  | (6) |  |  | 17,413 |
Asset-backed securities | 2,983 |  |  | 2 |  |  | — |  |  | 2,985 |
Yankee bonds | 1,972 |  |  | — |  |  | (2) |  |  | 1,970 |
Total short-term investments | 185,111 |  |  | 112 |  |  | (55) |  |  | 185,168 |
Total cash, cash equivalents and investments | $ | 250,043 |  |  | $ | 112 |  |  | $ | (55) |  |  | $ | 250,100 |
| December 31, 2023
|  |  | Gross Unrealized |  |
(in thousands) | Amortized Cost |  | Gains |  | Losses |  | Fair Value
Cash and cash equivalents |  |  |  |  |  |  |
Cash | $ | 2,829 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,829 |
Money market funds | 18,641 |  |  | — |  |  | — |  |  | 18,641 |
Total cash and cash equivalents | 21,470 |  |  | — |  |  | — |  |  | 21,470 |
Short-term investments |  |  |  |  |  |  |
U.S. government-sponsored agency bonds | $ | 101,892 |  |  | $ | 235 |  |  | $ | (34) |  |  | $ | 102,093 |
Commercial paper | 49,630 |  |  | 41 |  |  | (17) |  |  | 49,654 |
Asset-backed securities | 8,628 |  |  | 2 |  |  | (5) |  |  | 8,625 |
U.S. treasury securities | 2,455 |  |  | 2 |  |  | — |  |  | 2,457 |
Total short-term investments | 162,605 |  |  | 280 |  |  | (56) |  |  | 162,829 |
Total cash, cash equivalents and investments | $ | 184,075 |  |  | $ | 280 |  |  | $ | (56) |  |  | $ | 184,299 |
Realized gains or losses have not been significant and are included in other income, net, in our statements of operations and comprehensive loss. Unrealized losses in 2024 and 2023 were not material. We determined that none of our available-for-sale securities were other-than-temporarily impaired as of December 31, 2024 and 2023, and no investment was in a continuous unrealized loss position for more than one year. Therefore, we believe that it is more likely than not that the investments will be held until maturity or a forecasted recovery of fair value. Based on our procedures under the expected credit loss model, including an assessment of unrealized losses in our portfolio, we concluded that any unrealized losses on our marketable securities were not attributable to credit and, therefore, we have not recorded an allowance for credit losses as of December 31, 2024 and 2023.

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- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent + Details
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