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Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Financial Assets Measured at Fair Value on a Recurring Basis
Financial assets measured at fair value on a recurring basis were as follows (in thousands):
Fair Value Measurements at March 31, 2025
TotalLevel 1Level 2
Assets:
Money market funds$71,984 $71,984 $— 
U.S. Treasury securities2,992 — 2,992 
Government-sponsored enterprises7,983 — 7,983 
Corporate debt securities20,546 — 20,546 
Total assets measured at fair value(a)
$103,505 $71,984 $31,521 
Fair Value Measurements at December 31, 2024
TotalLevel 1Level 2
Assets:
Money market funds$67,886 $67,886 $— 
U.S. Treasury securities5,000 — 5,000 
Government-sponsored enterprises3,994 — 3,994 
Corporate debt securities25,548 — 25,548 
Total assets measured at fair value(b)
$102,428 $67,886 $34,542 
(a) Total assets measured at fair value at March 31, 2025 includes approximately $94.9 million reported in cash and cash equivalents on the consolidated balance sheet.
(b) Total assets measured at fair value at December 31, 2024 includes approximately $83.6 million reported in cash and cash equivalents on the consolidated balance sheet.