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Marketable Securities and Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Securities [Abstract] |
Schedule of Marketable Securities | The following table summarizes the Company’s marketable securities (in thousands):
| June 30, 2025 |  | December 31, 2024
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Corporate debt securities | $ | 26,330 |  |  | $ | 29 |  |  | $ | (2) |  |  | $ | 26,357 |  |  | $ | 110,820 |  |  | $ | 91 |  |  | $ | (204) |  |  | $ | 110,707 |
U.S. Treasury notes | 128,575 |  |  | 712 |  |  | (59) |  |  | 129,228 |  |  | 101,059 |  |  | 184 |  |  | (213) |  |  | 101,030 |
| $ | 154,905 |  |  | $ | 741 |  |  | $ | (61) |  |  | $ | 155,585 |  |  | $ | 211,879 |  |  | $ | 275 |  |  | $ | (417) |  |  | $ | 211,737 |
The following table summarizes the Company’s marketable securities maturity as of June 30, 2025 (in thousands):
Year |  | Amortized Cost |  | Fair Value
2025 |  | $ | 40,260 |  |  | $ | 40,248 |
2026 |  | 62,145 |  |  | 62,389 |
2027 |  | 27,966 |  |  | 28,194 |
2028 |  | 24,534 |  |  | 24,754 |
|  | $ | 154,905 |  |  | $ | 155,585 |
Schedule of Marketable Securities, Unrealized Loss Position | The following table summarizes the Company’s marketable securities with gross unrealized losses by security type aggregated by the length of time the investments have been in a continuous unrealized loss position as of June 30, 2025 (in thousands):
| Less Than 12 Months |  | 12 Months or Greater
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Corporate debt securities | $ | 747 |  |  | $ | — |  |  | $ | 3,999 |  |  | $ | 2 |
U.S. Treasury notes | 25,613 |  |  | 55 |  |  | 12,985 |  |  | 4 |
| $ | 26,360 |  |  | $ | 55 |  |  | $ | 16,984 |  |  | $ | 6 |
The following table summarizes the Company’s marketable securities with gross unrealized losses by security type aggregated by the length of time the investments have been in a continuous unrealized loss position as of December 31, 2024 (in thousands):
| Less Than 12 Months |  | 12 Months or Greater
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Corporate debt securities | $ | — |  |  | $ | — |  |  | $ | 73,128 |  |  | $ | 204 |
U.S. Treasury notes | 25,295 |  |  | 104 |  |  | 38,787 |  |  | 109 |
| $ | 25,295 |  |  | $ | 104 |  |  | $ | 111,915 |  |  | $ | 313 |
Schedule of Fair Value Assets Measured on Recurring Basis | The table below summarizes the Company’s financial instruments measured at fair value on a recurring basis (in thousands):
| June 30, 2025 |  | December 31, 2024
| Level 1 |  | Level 2 |  | Level 3 |  | Level 1 |  | Level 2 |  | Level 3
Marketable securities: |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | $ | — |  |  | $ | 26,357 |  |  | $ | — |  |  | $ | — |  |  | $ | 110,707 |  |  | $ | — |
U.S. Treasury notes | 129,228 |  |  | — |  |  | — |  |  | 101,030 |  |  | — |  |  | — |
| $ | 129,228 |  |  | $ | 26,357 |  |  | $ | — |  |  | $ | 101,030 |  |  | $ | 110,707 |  |  | $ | — |

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- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-4 + Details
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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 + Details
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