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Marketable Securities

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Marketable securities

4. Marketable securities

The following table summarizes the Company’s marketable securities as of March 31, 2025 (in thousands):

		March 31, 2025
		Amortized Cost				Unrealized Gains				Unrealized Loss				Fair Value
Marketable securities:
Corporate bonds		$	24,493			$	5			$	(52	)		$	24,446
Commercial paper			14,776				2				(3	)			14,775
US Government debt securities			66,330				16				(71	)			66,275
Total		$	105,599			$	23			$	(126	)		$	105,496

The following table summarizes the Company’s marketable securities as of December 31, 2024 (in thousands):

		December 31, 2024
		Amortized Cost				Unrealized Gains				Unrealized Loss				Fair Value
Marketable securities:
Corporate bonds		$	18,786			$	—			$	(118	)		$	18,668
Commercial paper			6,947				—				(3	)			6,944
US Government debt securities			93,158				94				(124	)			93,128
Total		$	118,891			$	94			$	(245	)		$	118,740

As of March 31, 2025, the weighted average maturity of the Company’s marketable securities is 0.63 years.

The Company did not record an allowance for credit losses as of March 31, 2025 related to its marketable securities. Further, given the lack of significant change in the credit risk of these investments, the Company did not recognize any other-than-temporary impairment losses.

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 940
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/940-320/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph b
-Publisher SEC

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 320
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