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Fair Value Measurements and Cash Equivalents/Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Summary of Cash Equivalents and Marketable Securities

The following tables summarize the Company’s cash equivalents and marketable securities as of December 31, 2024 and 2023:

		Total				Quoted Prices in Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(in thousands)
December 31, 2024
Cash equivalents:
Money market funds invested in government    securities		$	26,702			$	26,702			$	—			$	—
Total cash equivalents			26,702				26,702				—				—
Marketable securities:
U.S. Treasury Bills			2,947				2,947				—				—
U.S. Government securities			147,289				—				147,289				—
Total marketable securities			150,236				2,947				147,289				—
Total cash equivalents and marketable securities		$	176,938			$	29,649			$	147,289			$	—
December 31, 2023
Cash equivalents:
Money market funds invested in government    securities		$	24,701			$	24,701			$	—			$	—
Total cash equivalents			24,701				24,701				—				—
Marketable securities:
U.S. Treasury Bills			17,334				17,334				—				—
U.S. Government securities			35,719				—				35,719				—
Corporate bonds			6,988				—				6,988				—
Total marketable securities			60,041				17,334				42,707				—
Total cash equivalents and marketable securities		$	84,742			$	42,035			$	42,707			$	—

Summary of Marketable Securities

The following tables summarize the Company’s marketable securities as of December 31, 2024 and 2023:

		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(in thousands)
December 31, 2024
Assets:
U.S. Treasury Bills			2,945				2				—				2,947
U.S. Government securities			147,143				166				(20	)			147,289
Total marketable securities		$	150,088			$	168			$	(20	)		$	150,236
December 31, 2023
Assets:
U.S. Treasury Bills			17,330				4				—				17,334
U.S. Government securities			35,653				66				—				35,719
Corporate bonds			6,977				11				—				6,988
		$	59,960			$	81			$	—			$	60,041

X

- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-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/2003/role/disclosureRef
-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

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- References

No definition available.

+ Details

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X

- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

No definition available.

+ Details

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