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Fair value measurements (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of financial assets measured at fair value on a recurring basis | The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of June 30, 2025 (in thousands):
| Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 69,461 |  |  | $ | 69,461 |  |  | $ | — |  |  | $ | — |
Corporate debt securities | 8,471 |  |  | — |  |  | 8,471 |  |  | — |
Marketable securities: |  |  |  |  |  |  |
Corporate debt securities | 125,255 |  |  | — |  |  | 125,255 |  |  | — |
U.S. Treasury securities | 17,363 |  |  | — |  |  | 17,363 |  |  | — |
U.S. government debt securities | 2,198 |  |  | — |  |  | 2,198 |  |  | — |
Total cash equivalents and marketable securities | $ | 222,748 |  |  | $ | 69,461 |  |  | $ | 153,287 |  |  | $ | — |
There have been no transfers between fair value levels during the six months ended June 30, 2025. The following table sets forth the fair value of the Company’s financial assets by level within the fair value hierarchy at December 31, 2024 (in thousands):
| Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 46,219 |  |  | $ | 46,219 |  |  | $ | — |  |  | $ | — |
U.S. Treasury securities | 9,043 |  |  | — |  |  | 9,043 |  |  | — |
Marketable securities: |  |  |  |  |  |  |
Corporate debt securities | 186,931 |  |  | — |  |  | 186,931 |  |  | — |
U.S. Treasury securities | 18,302 |  |  | — |  |  | 18,302 |  |  | — |
U.S. government debt securities | 6,531 |  |  | — |  |  | 6,531 |  |  | — |
Total cash equivalents and marketable securities | $ | 267,026 |  |  | $ | 46,219 |  |  | $ | 220,807 |  |  | $ | — |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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/2009/role/commonPracticeRef -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 + Details
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