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Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value, Option, Quantitative Disclosures [Line Items]  
Schedule of company's assets that are measured at fair value on a recurring basis

The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis:

 

 

 

Fair value measurement at
reporting date using

 

(in thousands)

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

September 30, 2025

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market accounts

 

$

3,252

 

 

$

—

 

 

$

—

 

U.S. agency securities

 

$

—

 

 

$

997

 

 

$

—

 

Marketable securities:

 

 

 

 

 

 

 

 

 

U.S. agency securities

 

$

—

 

 

$

15,816

 

 

$

—

 

December 31, 2024

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market accounts

 

$

6,839

 

 

$

—

 

 

$

—

 

U.S. agency securities

 

$

—

 

 

$

499

 

 

$

—

 

Marketable securities:

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

—

 

 

$

2,018

 

 

$

—

 

U.S. agency securities

 

$

—

 

 

$

6,138

 

 

$

—

 

During the three and nine months ended September 30, 2025, there were no transfers between Level 1, Level 2 and Level 3.
Schedule of changes in fair value of the company's marketable securities

The following is a summary of the changes in fair value of the Company’s marketable securities as of September 30, 2025, and December 31, 2024, respectively:

 

 

As of September 30, 2025

 

(in thousands)

 

Amortized cost

 

 

Unrealized gain

 

 

Unrealized loss

 

 

Fair value

 

Available-for-sale marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

 

 

 

 

U.S. agency securities

 

$

15,811

 

 

$

6

 

 

$

(1

)

 

$

15,816

 

Total available-for-sale marketable securities

 

$

15,811

 

 

$

6

 

 

$

(1

)

 

$

15,816

 

 

 

 

As of December 31, 2024

 

(in thousands)

 

Amortized cost

 

 

Unrealized gain

 

 

Unrealized loss

 

 

Fair value

 

Available-for-sale marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

2,019

 

 

$

—

 

 

$

(1

)

 

$

2,018

 

U.S. agency securities

 

 

6,135

 

 

 

3

 

 

 

—

 

 

 

6,138

 

Total available-for-sale marketable securities

 

$

8,154

 

 

$

3

 

 

$

(1

)

 

$

8,156