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Fair value of financial assets and liabilities
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair value of financial assets and liabilities Fair value of financial assets and liabilities
The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands):
Fair value measurements as of March 31, 2025
Level 1Level 2Level 3Total
Assets    
Cash equivalents$15,202 $— $— $15,202 
Short-term investments22,764 — — 22,764 
$37,966 $— $— $37,966 
Fair value measurements as of December 31, 2024
Level 1Level 2Level 3Total
Assets
Cash equivalents$13,721 $— $— $13,721 
Short-term investments33,821 — — 33,821 
$47,542 $— $— $47,542 
During the three months ended March 31, 2025 and 2024, there were no transfers in or out of Level 3.
Valuation of short-term investments
U.S. Treasury bills and notes included in short-term investments were valued by the Company using quoted prices in active markets for identical securities, which represents a Level 1 measurement within the fair value hierarchy.