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Cash equivalents and Marketable Securities (Tables)

11 Months Ended

Dec. 31, 2024

Cash equivalents and Marketable Securities [Abstract]

Schedule of Cash Equivalents and Marketable Securities

Cash equivalents and marketable securities, which are classified as available-for-sale, consisted of the following as of December 31, 2024 (in thousands):

		December 31, 2024
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Cash equivalents
Money market funds		$	6,350			$	—			$	—			$	6,350
U.S. treasury securities			19,656				4				—				19,660
U.S. government agency securities			3,988				—				—				3,988
Commercial papers			22,180				—				(3	)			22,177
Total cash equivalents			52,174				4				(3	)			52,175
Marketable securities
Marketable securities, current
U.S. treasury securities			190,748				55				(11	)			190,792
U.S. government agency securities			12,967				1				(2	)			12,966
Commercial papers			34,808				3				—				34,811
Corporate debt securities			75,537				7				(40	)			75,504
Total marketable securities, current			314,060				66				(53	)			314,073
Marketable securities, long-term
U.S. treasury securities			13,639				—				(32	)			13,607
U.S. government agency securities			4,485				—				(23	)			4,462
Total marketable securities, long-term			18,124				—				(55	)			18,069
Total cash equivalents and marketable securities		$	384,358			$	70			$	(111	)		$	384,317

Schedule of Available-for-Sale Securities in an Unrealized Loss Position

The following table summarizes the available-for-sale securities in an unrealized loss position, aggregated by major security type and length of time in a continuous unrealized loss position, for which an allowance for credit losses was not recorded as of December 31, 2024, (in thousands):

		December 31, 2024
		Less than 12 months								12 months or longer								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Cash equivalents
Commercial papers		$	18,199			$	(3	)		$	—			$	—			$	18,199			$	(3	)
Marketable securities
Marketable securities, current
U.S. treasury securities			49,904				(11	)			—				—				49,904				(11	)
U.S. government agency securities			4,713				(2	)			—				—				4,713				(2	)
Corporate debt securities			39,468				(40	)			—				—				39,468				(40	)
Marketable securities, long-term																			—				—
U.S. treasury securities			13,607				(32	)			—				—				13,607				(32	)
U.S. government agency securities			4,462				(23	)			—				—				4,462				(23	)
Total		$	130,353			$	(111	)		$	—			$	—			$	130,353			$	(111	)

Schedule of Marketable Securities at Estimated Fair Value

The following table summarizes the contractual maturities of the Company’s marketable securities at estimated fair value (in thousands):

		December 31, 2024
Due in one year or less		$	314,073
Due in 1-2 years			18,069
Total		$	332,142

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