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Fair Value Measurements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Cash Equivalents and Short-term Investments

The following is a summary of the Company’s cash equivalents and short-term investments:


			March 31, 2025
			Amortized Cost Basis						Unrealized Gains						Unrealized Losses						Estimated Fair Value
			(In thousands)
Level 1:
Money market funds			$	10,631					$	—					$	—					$	10,631
Level 2:
Commercial paper			41,996						—						(7)						41,989
U.S. government and agency securities			23,433						11						—						23,444
Total cash equivalents and short-term investments			76,060						11						(7)						76,064
Less: Cash equivalents			(42,148)						—						6						(42,142)
Total short-term investments			$	33,912					$	11					$	(1)					$	33,922


			December 31, 2024
			Amortized Cost Basis						Unrealized Gains						Unrealized Losses						Estimated Fair Value
			(In thousands)
Level 1:
Money market funds			$	165					$	—					$	—					$	165
Level 2:
Commercial paper			78,500						10						(9)						78,501
U.S. government and agency securities			41,210						56						—						41,266

Total cash equivalents and short-term investments			119,875						66						(9)						119,932
Less: Cash equivalents			(54,901)						—						8						(54,893)
Total short-term investments			$	64,974					$	66					$	(1)					$	65,039