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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of the Company’s Assets and Liabilities that are Measured and Recognized at Fair Value on a Recurring Basis Classified Under the Appropriate Level of the Fair Value Hierarchy

The following table presents the Company’s assets and liabilities that are measured and recognized at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy as of December 31, 2025 and 2024:

 

 

Fair Value Measurements at
December 31, 2025

 

(in thousands)

 

Quoted Prices in Active Markets for Identical Assets and Liabilities
(Level 1)

 

 

Significant Other Observable Inputs
(Level 2)

 

 

Significant Unobservable Inputs
(Level 3)

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market fund

 

$

17,169

 

 

$

 

 

$

 

 

$

17,169

 

Total included in cash and cash equivalents

 

 

17,169

 

 

 

 

 

 

 

 

 

17,169

 

 

 

 

 

 

 

 

 

 

 

 

 

Available for sale investments:

 

 

 

 

 

 

 

 

 

 

 

 

Certificate of deposit

 

 

 

 

 

143

 

 

 

 

 

 

143

 

Corporate debt securities

 

 

 

 

 

28,669

 

 

 

 

 

 

28,669

 

Commercial paper

 

 

 

 

 

413

 

 

 

 

 

 

413

 

U.S. government agencies

 

 

 

 

 

2,876

 

 

 

 

 

 

2,876

 

U.S. treasury securities

 

 

8,733

 

 

 

 

 

 

 

 

 

8,733

 

Total available for sale investments

 

 

8,733

 

 

 

32,101

 

 

 

 

 

 

40,834

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets measured at fair value on a recurring basis

 

$

25,902

 

 

$

32,101

 

 

$

 

 

$

58,003

 

 

 

 

Fair Value Measurements at
December 31, 2024

 

(in thousands)

 

Quoted Prices in Active Markets for Identical Assets and Liabilities
(Level 1)

 

 

Significant Other Observable Inputs
(Level 2)

 

 

Significant Unobservable Inputs
(Level 3)

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market fund

 

$

50,499

 

 

$

 

 

$

 

 

$

50,499

 

U.S. treasury securities

 

 

393

 

 

 

 

 

 

 

 

 

393

 

Total included in cash and cash equivalents

 

 

50,892

 

 

 

 

 

 

 

 

 

50,892

 

 

 

 

 

 

 

 

 

 

 

 

 

Available for sale investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

 

 

 

 

23,489

 

 

 

 

 

 

23,489

 

Commercial paper

 

 

 

 

 

313

 

 

 

 

 

 

313

 

U.S. treasury securities

 

 

16,474

 

 

 

 

 

 

 

 

 

16,474

 

Total available for sale investments

 

 

16,474

 

 

 

23,802

 

 

 

 

 

 

40,276

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets measured at fair value on a recurring basis

 

$

67,366

 

 

$

23,802

 

 

$

 

 

$

91,168