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Fair Value Measurements and Marketable Securities Available-for-Sale (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Marketable securities Measured at Fair Value on Recurring Basis

There have not been any transfers between the levels during the periods.


		December 31, 2024
		Total				Level 1				Level 2				Level 3
		(In thousands)
Financial assets:
Cash equivalents:
Money market funds		$	11,549			$	11,549			$	—			$	—
			11,549				11,549				—				—
Marketable securities:
Certificate of deposits			12,642				—				12,642				—
Commercial paper			18,227				—				18,227				—
U.S. government and government agency securities			355,170				—				355,170				—
Corporate bonds			80,930				—				80,930				—
			466,969				—				466,969				—
Total financial assets:		$	478,518			$	11,549			$	466,969			$	—

Financial liabilities:
Warrants		$	2,053			$	1,959			$	—			$	94


		December 31, 2023
		Total				Level 1				Level 2				Level 3
		(In thousands)
Financial assets:
Cash equivalents:
Money market funds		$	20,574			$	20,574			$	—			$	—
U.S. government and government agency securities			4,988				—				4,988				—
Corporate bonds			947				—				947				—
			26,509				20,574				5,935				—
Marketable securities:
Certificate of deposits			10,176				—				10,176				—
Commercial paper			23,628				—				23,628				—
U.S. government and government agency securities			453,175				—				453,175				—
Corporate bonds			81,585				—				81,585				—
			568,564				—				568,564				—
Total financial assets:		$	595,073			$	20,574			$	574,499			$	—

Financial liabilities:
Warrants		$	353			$	338			$	—			$	15

Schedule of Cost, Aggregate Fair Value and Unrealized Gains of Marketable Securities Available-for-sale

The following table provides the amortized cost, aggregate fair value, and unrealized gains (losses) of marketable securities as of December 31, 2024 and December 31, 2023:


		December 31, 2024
		Amortized Cost				Unrealized Gains				Unrealized Losses						Fair Value
		(In thousands)
Cash equivalents:
Money market funds		$	11,549			$	—			$	—					$	11,549
			11,549				—				—						11,549
Marketable securities:
Certificate of deposits			12,628				14				—			—			12,642
Commercial paper			18,200				27				—						18,227
U.S. government and government agency securities			355,214				436				(480	)					355,170
Corporate bonds			80,891				119				(80	)					80,930
			466,933				596				(560	)					466,969
		$	478,482			$	596			$	(560	)				$	478,518


		December 31, 2023
		Amortized Cost				Unrealized Gains				Unrealized Losses				Fair Value
		(In thousands)
Cash equivalents:
Money market funds		$	20,574			$	—			$	—			$	20,574
U.S government and government agency securities			4,987				1				—				4,988
Corporate bonds			947				—				—				947
			26,508				1				—				26,509
Marketable securities:
Certificate of deposits			10,171				7				(2	)			10,176
Commercial paper			23,609				22				(3	)			23,628
U.S government and government agency securities			452,813				1,095				(733	)			453,175
Corporate bonds			81,791				68				(274	)			81,585
			568,384				1,192				(1,012	)			568,564
		$	594,892			$	1,193			$	(1,012	)		$	595,073

Schedule of Net Realized Gain (Loss) on Marketable Securities

For the years ended December 31, 2024 and 2023, the activity related to the net gains (losses) on marketable securities included in other income (expense) on the consolidated statements of operations and comprehensive loss were as follows (in thousands):


		Years Ended December 31,
		2024				2023
Net realized gains (losses) on available-for-sale securities were as follows:
Realized gains from sales of available-for-sale securities		$	41			$	70
Realized losses from sales of available-for-sale securities			(53	)			(209	)
Net realized losses on marketable securities		$	(12	)		$	(139	)

Schedule Of Available for sale Securities Maturity On Fair Value

Maturity information based on fair value of the available-for-sale securities is as follows as of December 31, 2024:


		Within one year				After one year through five years				Total
		(In thousands)
Certificate of deposits		$	12,642			$	—			$	12,642
Commercial paper			18,227				—				18,227
U.S. government and government agency securities			300,295				54,875				355,170
Corporate bonds			52,865				28,065				80,930
		$	384,029			$	82,940			$	466,969

Schedule of Marketable Securities with Continuous Unrealized Losses

The following tables provide marketable securities with continuous unrealized losses for less than 12 months and 12 months or greater and the related fair values as of December 31, 2024 and 2023 were as follows:


		December 31, 2024
		Less than 12 Months								12 Months or Greater								Total				Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
		(In thousands)
Certificate of deposits		$	243			$	—			$	—			$	—			$	243			$	—
U.S. government and government agency securities			111,021				(398	)			45,099				(82	)			156,120				(480	)
Corporate bonds			20,659				(33	)			9,911				(47	)			30,570				(80	)
		$	131,923			$	(431	)		$	55,010			$	(129	)		$	186,933			$	(560	)


		December 31, 2023
		Less than 12 Months								12 Months or Greater								Total				Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
		(In thousands)
Certificate of deposits		$	5,693			$	(2	)		$	—			$	—			$	5,693			$	(2	)
Commercial paper			9,101				(3	)			—				—				9,101				(3	)
U.S. government and government agency securities			199,552				(694	)			24,761				(38	)			224,313				(732	)
Corporate bonds			21,844				(28	)			26,484				(246	)			48,328				(274	)
		$	236,190			$	(727	)		$	51,245			$	(284	)		$	287,435			$	(1,011	)