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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets that are Measured at Fair Value on a Recurring basis

The following table shows the Company’s assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands) as of December 31, 2024:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

2,060

 

 

$

—

 

 

$

—

 

Marketable securities:

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

—

 

 

 

1,446

 

 

 

—

 

Corporate debt securities

 

 

—

 

 

 

42,882

 

 

 

—

 

Municipal debt securities

 

 

—

 

 

 

3,072

 

 

 

—

 

U.S. federal agency securities

 

 

—

 

 

 

12,263

 

 

 

—

 

U.S. government securities

 

 

—

 

 

 

4,503

 

 

 

—

 

Total assets

 

$

2,060

 

 

$

64,166

 

 

$

—

 

 

The following table shows the Company’s assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands) as of December 31, 2023:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

1,272

 

 

$

—

 

 

$

—

 

Marketable securities:

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

—

 

 

 

11,773

 

 

 

—

 

Corporate debt securities

 

 

—

 

 

 

18,192

 

 

 

—

 

U.S. federal agency securities

 

 

—

 

 

 

28,958

 

 

 

—

 

U.S. government securities

 

 

—

 

 

 

17,117

 

 

 

—

 

Total assets

 

$

1,272

 

 

$

76,040

 

 

$

—