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FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, All Other Investments [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table sets forth the fair value of our financial assets and liabilities that were measured on a recurring basis:
December 31, 2024December 31, 2023
(in thousands)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Cash and cash equivalents:
Cash and money market funds $55,370 $— $— $55,370 $70,172 $— $— $70,172 
Commercial paper — — — — — — — — 
U.S. government & agency securities— — — — — 109,739 — 109,739 
Total cash and cash equivalents 55,370 — — 55,370 70,172 109,739 — 179,911 
Investments:
Commercial paper — — — — — 9,947 — 9,947 
Corporate debt securities — 46,905 — 46,905 — 88,579 — 88,579 
U.S. government & agency securities— 287,656 — 287,656 — 352,979 — 352,979 
Total investments — 334,561 — 334,561 — 451,505 — 451,505 
Short-term restricted cash690 — — 690 300 — — 300 
Long-term restricted cash1,532 — — 1,532 2,422 — — 2,422 
Total assets measured at fair value $57,592 $334,561 $— $392,153 $72,894 $561,244 $— $634,138 
Liabilities
Contingent consideration - Apton acquisition$— $— $18,700 $18,700 $— $— $19,550 $19,550 
Total liabilities measured at fair value $— $— $18,700 $18,700 $— $— $19,550 $19,550 
Schedule of Changes in the Estimated Fair Value of Contingent Consideration Liability
Changes in the estimated fair value of the contingent consideration liability related to the Apton acquisition for the year ended December 31, 2024 were as follows:
(in thousands)Level 3
Beginning balance as of December 31, 2023$19,550 
Change in estimated fair value(850)
Ending balance as of December 31, 2024$18,700 
Schedule of Cash, Cash Equivalents and Investments
The following table summarizes our cash, cash equivalents, restricted cash, and investments:
December 31, 2024
(in thousands)Amortized
Cost 		Gross
unrealized
gains 		Gross
unrealized
losses 		Fair
Value
Cash and cash equivalents:
Cash and money market funds$55,370 $— $— $55,370 
U.S. government & agency securities— — — — 
Total cash and cash equivalents 55,370 — — 55,370 
Investments:
Commercial paper — — — — 
Corporate debt securities 46,746 184 (25)46,905 
U.S. government & agency securities287,393 418 (155)287,656 
Total investments 334,139 602 (180)334,561 
Total cash, cash equivalents, and investments $389,509 $602 $(180)$389,931 
Short-term restricted cash$690 $— $— $690 
Long-term restricted cash$1,532 $— $— $1,532 
December 31, 2023
(in thousands)Amortized
Cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
Value
Cash and cash equivalents:
Cash and money market funds$70,172 $— $— $70,172 
Commercial paper — — — — 
U.S. government & agency securities109,786 13 (60)109,739 
Total cash and cash equivalents 179,958 13 (60)179,911 
Investments:
Commercial paper 9,947 — — 9,947 
Corporate debt securities 88,263 373 (57)88,579 
U.S. government & agency securities353,029 478 (528)352,979 
Total investments 451,239 851 (585)451,505 
Total cash, cash equivalents, and investments $631,197 $864 $(645)$631,416 
Short-term restricted cash$300 $— $— $300 
Long-term restricted cash$2,422 $— $— $2,422 
The following table summarizes the contractual maturities of our cash equivalents and available-for-sale investments, excluding money market funds, as of December 31, 2024:
(in thousands)Fair Value
Due in one year or less $238,957 
Due after one year through 5 years 95,604 
Total investments $334,561