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Investments in Marketable Securities (Tables)
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Available-for-Sale
All of the Company’s debt securities are classified as available-for-sale. The Company’s cash equivalents and investments as of March 31, 2025 and December 31, 2024 consisted of the following:
March 31, 2025
(In thousands)Fair Value Level
Amortized cost (1)
Gross Unrealized GainsGross Unrealized LossesEstimated Fair ValueCash EquivalentsShort-term investments
Money market funds1$25,840 $— $— $25,840 $25,840 $— 
U.S. Treasuries224,124 2 (3)24,123 17,415 6,708 
Commercial paper215,830 — (9)15,821 7,959 7,862 
U.S. Corporate bonds25,003 — (6)4,997 — 4,997 
Total cash equivalents and investments$70,797 $2 $(18)$70,781 $51,214 $19,567 
December 31, 2024
(In thousands)Fair Value Level
Amortized cost (1)
Gross Unrealized GainsGross Unrealized LossesEstimated Fair ValueCash EquivalentsShort-term investments
Money market funds1$30,754 $— $— $30,754 $30,754 $— 
U.S. Treasuries235,129 16 — 35,145 6,932 28,213 
U.S. Government bonds25,475 9 — 5,484 — 5,484 
Commercial paper211,949 — (6)11,943 9,958 1,985 
U.S. Corporate bonds242,526 63 — 42,589 1,236 41,353 
Total cash equivalents and investments$125,833 $88 $(6)$125,915 $48,880 $77,035 
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(1) The amortized cost of debt securities excludes accrued interest of $0.1 million and $0.7 million, respectively, recorded within prepaid expenses and other current assets in the condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024.