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Fair Value Measurements and Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets Measured on Recurring Basis | The following tables set forth the fair value of the Company’s financial assets that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):
|  | December 31, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 36,097 |  |  | $ | — |  |  | $ | — |  |  | $ | 36,097 |
Commercial paper |  |  | — |  |  |  | 4,191 |  |  |  | — |  |  |  | 4,191 |
Total cash equivalents |  |  | 36,097 |  |  |  | 4,191 |  |  |  | — |  |  |  | 40,288 |
Investments: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  |  | — |  |  |  | 150,116 |  |  |  | — |  |  |  | 150,116 |
Commercial paper |  |  | — |  |  |  | 12,239 |  |  |  | — |  |  |  | 12,239 |
Corporate debt securities |  |  | — |  |  |  | 96,405 |  |  |  | — |  |  |  | 96,405 |
Total investments |  |  | — |  |  |  | 258,760 |  |  |  | — |  |  |  | 258,760 |
Total assets measured at fair value |  | $ | 36,097 |  |  | $ | 262,951 |  |  | $ | — |  |  | $ | 299,048 |
|  | December 31, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 22,646 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,646 |
Corporate debt securities |  |  | — |  |  |  | 1,550 |  |  |  | — |  |  |  | 1,550 |
U.S. Treasury securities |  |  | — |  |  |  | 4,985 |  |  |  | — |  |  |  | 4,985 |
Total cash equivalents |  |  | 22,646 |  |  |  | 6,535 |  |  |  | — |  |  |  | 29,181 |
Investments: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  |  | — |  |  |  | 225,180 |  |  |  | — |  |  |  | 225,180 |
U.S. Non-Treasury securities |  |  | — |  |  |  | 11,901 |  |  |  | — |  |  |  | 11,901 |
Commercial paper |  |  | — |  |  |  | 18,186 |  |  |  | — |  |  |  | 18,186 |
Corporate debt securities |  |  | — |  |  |  | 85,316 |  |  |  | — |  |  |  | 85,316 |
Total investments |  |  | — |  |  |  | 340,583 |  |  |  | — |  |  |  | 340,583 |
Total assets measured at fair value |  | $ | 22,646 |  |  | $ | 347,118 |  |  | $ | — |  |  | $ | 369,764 |
Schedule of Debt Securities, Available-for-sale, Unrealized Gain | The following is a summary of the Company’s cash equivalents and investments and the gross unrealized holding gains and losses (in thousands):
|  | December 31, 2024 |
|  | Amortized Cost Basis |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 36,097 |  |  | $ | — |  |  | $ | — |  |  | $ | 36,097 |
Commercial paper |  |  | 4,191 |  |  |  | — |  |  |  | — |  |  |  | 4,191 |
Total cash equivalents |  |  | 40,288 |  |  |  | — |  |  |  | — |  |  |  | 40,288 |
Investments: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  |  | 150,095 |  |  |  | 121 |  |  |  | (100 | ) |  |  | 150,116 |
Commercial paper |  |  | 12,227 |  |  |  | 12 |  |  |  | — |  |  |  | 12,239 |
Corporate debt securities |  |  | 96,302 |  |  |  | 209 |  |  |  | (106 | ) |  |  | 96,405 |
Total investments |  |  | 258,624 |  |  |  | 342 |  |  |  | (206 | ) |  |  | 258,760 |
Total assets measured at fair value |  | $ | 298,912 |  |  | $ | 342 |  |  | $ | (206 | ) |  | $ | 299,048 |
|  | December 31, 2023 |
|  | Amortized Cost Basis |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 22,646 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,646 |
Corporate debt securities |  |  | 1,549 |  |  |  | 1 |  |  |  | — |  |  |  | 1,550 |
U.S. Treasury securities |  |  | 4,984 |  |  |  | 1 |  |  |  | — |  |  |  | 4,985 |
Total cash equivalents |  |  | 29,179 |  |  |  | 2 |  |  |  | — |  |  |  | 29,181 |
Investments: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  |  | 225,517 |  |  |  | 55 |  |  |  | (392 | ) |  |  | 225,180 |
U.S. Non-Treasury securities |  |  | 11,904 |  |  |  | 2 |  |  |  | (5 | ) |  |  | 11,901 |
Commercial paper |  |  | 18,166 |  |  |  | 26 |  |  |  | (6 | ) |  |  | 18,186 |
Corporate debt securities |  |  | 85,190 |  |  |  | 142 |  |  |  | (16 | ) |  |  | 85,316 |
Total investments |  |  | 340,777 |  |  |  | 225 |  |  |  | (419 | ) |  |  | 340,583 |
Total assets measured at fair value |  | $ | 369,956 |  |  | $ | 227 |  |  | $ | (419 | ) |  | $ | 369,764 |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 + Details
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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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