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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value on Recurring Basis by Level within Fair Value Hierarchy

The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):


				March 31, 2025
		Valuation Hierarchy		Amortized Costs				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds		Level 1		$	55,927			$	—			$	—			$	55,927
U.S. Treasury securities		Level 1			1,996				—				—				1,996
Corporate debt		Level 2			1,820				—				—				1,820
Short-term investments:
U.S. Treasury securities		Level 1			53,865				48				—				53,913
U.S. government-sponsored enterprises debt securities		Level 2			3,999				3				—				4,002
Corporate debt		Level 2			53,199				34				(1	)			53,232
Commercial paper		Level 2			1,923				4				—				1,927
Total cash equivalents and short-term investments				$	172,729			$	89			$	(1	)		$	172,817


				December 31, 2024
		Valuation Hierarchy		Amortized Costs				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds		Level 1		$	110,979			$	—			$	—			$	110,979
Short-term investments:
Corporate debt		Level 2			34,629				43				(1	)			34,671
Total cash equivalents and short-term investments				$	145,608			$	43			$	(1	)		$	145,650

Schedule of breakdown of the available-for-sale debt securities with unrealized losses Table Text Block

The following tables present the breakdown of the available-for-sale debt securities with unrealized losses as of March 31, 2025, and December 31, 2024 (in thousands):


		March 31, 2025
		Unrealized losses less than 12 months								Unrealized losses 12 months or greater								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Corporate debt		$	10,517			$	(1	)		$	—			$	—			$	10,517			$	(1	)
Total		$	10,517			$	(1	)		$	—			$	—			$	10,517			$	(1	)


		December 31, 2024
		Unrealized losses less than 12 months								Unrealized losses 12 months or greater								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Corporate debt			2,994				(1	)			—				—				2,994				(1	)
Total		$	2,994			$	(1	)		$	—			$	—			$	2,994			$	(1	)