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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Assets and Liabilities Carried at Fair Value Measured on Recurring Basis | The following tables summarize the Company’s assets by significant categories carried at fair value measured on a recurring basis by valuation hierarchy (in thousands):
|  | March 31, 2025 |
|  | Carrying Value |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Cash Equivalents |  |  | Marketable Securities |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 74,478 |  |  | $ | — |  |  | $ | — |  |  | $ | 74,478 |  |  | $ | 74,478 |  |  | $ | — |
Subtotal |  | $ | 74,478 |  |  | $ | — |  |  | $ | — |  |  | $ | 74,478 |  |  | $ | 74,478 |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | $ | 76,510 |  |  | $ | 6 |  |  | $ | (3 | ) |  | $ | 76,513 |  |  | $ | — |  |  | $ | 76,513 |
U.S. Treasury securities |  |  | 128,784 |  |  |  | 81 |  |  |  | (6 | ) |  |  | 128,859 |  |  |  | — |  |  |  | 128,859 |
U.S. Agency securities |  |  | 27,659 |  |  |  | 9 |  |  |  | (4 | ) |  |  | 27,664 |  |  |  | — |  |  |  | 27,664 |
Subtotal |  | $ | 232,953 |  |  | $ | 96 |  |  | $ | (13 | ) |  | $ | 233,036 |  |  | $ | — |  |  | $ | 233,036 |
Total |  | $ | 307,431 |  |  | $ | 96 |  |  | $ | (13 | ) |  | $ | 307,514 |  |  | $ | 74,478 |  |  | $ | 233,036 |
|  | December 31, 2024 |
|  | Carrying Value |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Cash Equivalents |  |  | Marketable Securities |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 95,859 |  |  | $ | — |  |  | $ | — |  |  | $ | 95,859 |  |  | $ | 95,859 |  |  | $ | — |
Subtotal |  | $ | 95,859 |  |  | $ | — |  |  | $ | — |  |  | $ | 95,859 |  |  | $ | 95,859 |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | $ | 94,817 |  |  | $ | 26 |  |  | $ | (1 | ) |  | $ | 94,842 |  |  | $ | — |  |  | $ | 94,842 |
U.S. Treasury securities |  |  | 114,599 |  |  |  | 120 |  |  |  | (8 | ) |  |  | 114,711 |  |  |  | — |  |  |  | 114,711 |
U.S. Agency securities |  |  | 61,605 |  |  |  | 53 |  |  |  | (2 | ) |  |  | 61,656 |  |  |  | — |  |  |  | 61,656 |
Subtotal |  | $ | 271,021 |  |  | $ | 199 |  |  | $ | (11 | ) |  | $ | 271,209 |  |  | $ | — |  |  | $ | 271,209 |
Total |  | $ | 366,880 |  |  | $ | 199 |  |  | $ | (11 | ) |  | $ | 367,068 |  |  | $ | 95,859 |  |  | $ | 271,209 |

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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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