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Short-Term Investments (Tables)
9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Summary of Short-term Investments Classified as Available-for-sale Securities

The following is a summary of short-term investments, which were classified as available-for-sale securities as of September 30, 2025 and December 31, 2024 (in thousands):

 

 

September 30, 2025

 

 

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government securities

 

$

78,759

 

 

$

21

 

 

$

(10

)

 

$

78,770

 

U.S. government agencies

 

 

10,964

 

 

 

1

 

 

 

(3

)

 

 

10,962

 

Total short-term investments

 

$

89,723

 

 

$

22

 

 

$

(13

)

 

$

89,732

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government securities

 

$

119,603

 

 

$

55

 

 

$

(29

)

 

$

119,629

 

Total short-term investments

 

$

119,603

 

 

$

55

 

 

$

(29

)

 

$

119,629