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Fair Value Measurements and Available for Sale Investments (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on Recurring Basis

The following table presents the hierarchy for assets measured at fair value on a recurring basis as of December 31, 2024 and 2023 (in thousands):

			Fair Value Measurements at End of Period Using:
			Total Fair Value						Quoted Market Prices for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
As of December 31, 2024
Money market funds			$	25,264					$	25,264					$	—					$	—
U.S. Treasury and agency securities			56,900						56,900						—						—
Commercial paper			188,653						—						188,653						—
Corporate debt securities			19,963						—						19,963						—
As of December 31, 2023
Money market funds			$	25,222					$	25,222					$	—					$	—
U.S. Treasury and agency securities			92,309						92,309						—						—
Commercial paper			168,534						—						168,534						—
Corporate debt securities			3,473						—						3,473						—

Schedule of Available for Sale Investments by Security Type

The aggregate market value, cost basis, and gross unrealized gains and losses of available-for-sale investments by security type, classified in marketable securities as of December 31, 2024 and 2023 are as follows (in thousands except securities amounts):

			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Total Fair Value
As of December 31, 2024
U.S Treasury and agency securities			$	56,875					$	25					$	—					$	56,900
Corporate debt securities			19,950						13						—						19,963
Commercial paper			188,537						142						(26)						188,653
Total marketable securities			$	265,362					$	180					$	(26)					$	265,516
Number of securities with unrealized losses															5
As of December 31, 2023
U.S. Treasury and agency securities			$	92,294					$	20					$	(5)					$	92,309
Corporate debt securities			3,467						$	6					—						3,473
Commercial paper			168,488						76						(30)						168,534
Total marketable securities			$	264,249					$	102					$	(35)					$	264,316
Number of securities with unrealized losses															12

Schedule of Contractual Maturities of Available-for-sale Debt Securities

Contractual maturities of available-for-sale debt securities, as of December 31, 2024, were as follows (in thousands):

			Estimated Fair Value
Less than one year			$	265,516
Greater than one year			—
Total			$	265,516

X

- 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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- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

No definition available.

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