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FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

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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- Definition

Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

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