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Fair Value Measurements
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The Company classifies its U.S. treasury securities within Level 1 of the fair value hierarchy because the fair value of these securities are priced based on quoted markets in active markets for identical assets. The Company classifies its commercial paper within Level 2 of the fair value hierarchy because the fair value of these securities are priced by using inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for underlying securities which may not be actively traded.

The following table presents the level within the fair value hierarchy at which the Company’s held-to-maturity investments are measured (in thousands):
As of September 30, 2024Level 1Level 2Total
Investments
U.S. treasury securities$8,503 $— $8,503 
Commercial paper— 9,435 9,435 
Total $8,503 $9,435 $17,938 
As of December 31, 2023Level 1Level 2Total
Investments
Commercial paper$— $16,789 $16,789 
Total$— $16,789 $16,789 
There were no transfers between levels of the fair value hierarchy during the three and nine months ended September 30, 2024 and the year ended December 31, 2023, respectively. The Company held no assets or liabilities that were measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023, respectively.