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Fair Value Measurements and Investments (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Investments Subject to Fair Value Measurements on a Recurring Basis

The following tables set forth the fair value of the Company’s investments subject to fair value measurements on a recurring basis and the level of inputs used in such measurements:

 

 

 

 

 

December 31, 2024

 

 

 

Valuation
Hierarchy

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Aggregate
Fair Value

 

 

 

 

 

(in thousands)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

Level I

 

$

28,313

 

 

$

 

 

$

28,313

 

Restricted cash (money market funds)

 

Level I

 

 

1,027

 

 

 

 

 

 

1,027

 

U.S. Treasury securities

 

Level II

 

 

72,503

 

 

 

27

 

 

 

72,530

 

Total

 

 

 

$

101,843

 

 

$

27

 

 

$

101,870

 

 

 

 

 

 

 

December 31, 2023

 

 

 

Valuation
Hierarchy

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Aggregate
Fair Value

 

 

 

 

 

(in thousands)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

Level I

 

$

17,109

 

 

$

 

 

$

17,109

 

Restricted cash (money market funds)

 

Level I

 

 

917

 

 

 

 

 

 

917

 

U.S. Treasury securities

 

Level II

 

 

157,243

 

 

 

95

 

 

 

157,338

 

Total

 

 

 

$

175,269

 

 

$

95

 

 

$

175,364