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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Measurements [Abstract]

Schedule of Fair Value Hierarchy for Financial Assets Measured

The following tables present the Company’s fair value hierarchy for financial assets measured as of March 31, 2025 and December 31, 2024 (in thousands):

		March 31, 2025
		Level 1				Level 2				Level 3				Total
Cash equivalents
Money market funds		$	11,129			$	—			$	—			$	11,129
U.S. government agency securities			—				1,997				—				1,997
Corporate debt securities			—				1,341				—				1,341
Commercial papers			—				64,892				—				64,892
Total cash equivalents			11,129				68,230				—				79,359
Marketable securities
Marketable securities, current
U.S. treasury securities			—				174,191				—				174,191
U.S. government agency securities			—				8,765				—				8,765
Commercial papers			—				30,226				—				30,226
Corporate debt securities			—				52,340				—				52,340
Total marketable securities, current			—				265,522				—				265,522
Marketable securities, long-term
U.S. treasury securities							19,510				—				19,510
U.S. government agency securities			—				4,443				—				4,443
Total marketable securities, long-term			—				23,953				—				23,953
Total cash equivalents and marketable securities		$	11,129			$	357,705			$	—			$	368,834

There were no transfers in or out of Level 3 during the three months ended March 31, 2025.

		December 31, 2024
		Level 1				Level 2				Level 3				Total
Cash equivalents
Money market funds		$	6,350			$	—			$	—			$	6,350
U.S. treasury securities			—				19,660				—				19,660
U.S. government agency securities			—				3,988				—				3,988
Commercial papers			—				22,177				—				22,177
Total cash equivalents			6,350				45,825				—				52,175
Marketable securities
Marketable securities, current
U.S. treasury securities			—				190,792				—				190,792
U.S. government agency securities			—				12,966				—				12,966
Commercial papers			—				34,811				—				34,811
Corporate debt securities			—				75,504				—				75,504
Total marketable securities, current			—				314,073				—				314,073
Marketable securities, long-term
U.S. treasury securities			—				13,607				—				13,607
U.S. government agency securities			—				4,462				—				4,462
Total marketable securities, long-term			—				18,069				—				18,069
Total cash equivalents and marketable securities		$	6,350			$	377,967			$	—			$	384,317

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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

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X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
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