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FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
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Jun. 30, 2025
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:
| June 30, 2025 |  | December 31, 2024
(In thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 51,324 |  |  | $ | 3,479 |  |  | $ | — |  |  | $ | 54,803 |  |  | $ | 55,370 |  |  | $ | — |  |  | $ | — |  |  | $ | 55,370 |
Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | — |  |  | 31,064 |  |  | — |  |  | 31,064 |  |  | — |  |  | 46,905 |  |  | — |  |  | 46,905 |
U.S. government & agency securities | — |  |  | 228,868 |  |  | — |  |  | 228,868 |  |  | — |  |  | 287,656 |  |  | — |  |  | 287,656 |
Total investments | — |  |  | 259,932 |  |  | — |  |  | 259,932 |  |  | — |  |  | 334,561 |  |  | — |  |  | 334,561 |
Short-term restricted cash | 300 |  |  | — |  |  | — |  |  | 300 |  |  | 690 |  |  | — |  |  | — |  |  | 690 |
Long-term restricted cash | 1,532 |  |  | — |  |  | — |  |  | 1,532 |  |  | 1,532 |  |  | — |  |  | — |  |  | 1,532 |
Total assets measured at fair value | $ | 53,156 |  |  | $ | 263,411 |  |  | $ | — |  |  | $ | 316,567 |  |  | $ | 57,592 |  |  | $ | 334,561 |  |  | $ | — |  |  | $ | 392,153 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 18,700 |  |  | $ | 18,700 |
Total liabilities measured at fair value | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 18,700 |  |  | $ | 18,700 |
Schedule of Changes in the Estimated Fair Value of Contingent Consideration Liability | Changes in the estimated fair value of the contingent consideration liability during the six months ended June 30, 2025 were as follows:
(In thousands) | Level 3
Beginning balance as of December 31, 2024 | $ | 18,700 |
Change in estimated fair value | (18,700) |
Ending balance as of June 30, 2025 | $ | — |
Schedule of Cash, Cash Equivalents, Restricted Cash and Investments | The following tables summarize our cash, cash equivalents, restricted cash, and investments:
| As of June 30, 2025
(In thousands) | Amortized Cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair Value
Cash and cash equivalents | $ | 54,803 |  |  | $ | — |  |  | $ | — |  |  | $ | 54,803 |
Investments: |  |  |  |  |  |  |
Corporate debt securities | 30,939 |  |  | 130 |  |  | (5) |  |  | 31,064 |
U.S. government & agency securities | 228,726 |  |  | 191 |  |  | (49) |  |  | 228,868 |
Total investments | 259,665 |  |  | 321 |  |  | (54) |  |  | 259,932 |
Total cash, cash equivalents and investments | $ | 314,468 |  |  | $ | 321 |  |  | $ | (54) |  |  | $ | 314,735 |
Short-term restricted cash | $ | 300 |  |  | $ | — |  |  | $ | — |  |  | $ | 300 |
Long-term restricted cash | $ | 1,532 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,532 |
| As of December 31, 2024
(In thousands) | Amortized Cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair Value
Cash and cash equivalents | $ | 55,370 |  |  | $ | — |  |  | $ | — |  |  | $ | 55,370 |
Investments: |  |  |  |  |  |  |
Corporate debt securities | 46,746 |  |  | 184 |  |  | (25) |  |  | 46,905 |
U.S. government & agency securities | 287,393 |  |  | 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 |
The following table summarizes the contractual maturities of our cash equivalents and available-for-sale investments, excluding money market funds, as of June 30, 2025:
(In thousands) | Fair Value
Due in one year or less | $ | 214,595 |
Due after one year through five years | 48,816 |
Total | $ | 263,411 |

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