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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2026
Fair Value Disclosures [Abstract] |
Summary of Financial Assets and Liabilities Measured at Fair Value | The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands):
|  | Fair Value Measurements at June 30, 2026 Using: |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 35,601 |  |  | $ | — |  |  | $ | — |  |  | $ | 35,601 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | — |  |  |  | 41,476 |  |  |  | — |  |  |  | 41,476 |
Promissory note |  |  | — |  |  |  | — |  |  |  | 2,560 |  |  |  | 2,560 |
Total assets |  | $ | 35,601 |  |  | $ | 41,476 |  |  | $ | 2,560 |  |  | $ | 79,637 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
CVR liability |  | $ | — |  |  | $ | — |  |  | $ | 2,560 |  |  | $ | 2,560 |
|  | Fair Value Measurements at December 31, 2025 Using: |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 34,968 |  |  | $ | — |  |  | $ | — |  |  | $ | 34,968 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | — |  |  |  | 40,817 |  |  |  | — |  |  |  | 40,817 |
Promissory note |  |  | — |  |  |  | — |  |  |  | 7,020 |  |  |  | 7,020 |
Total assets |  | $ | 34,968 |  |  | $ | 40,817 |  |  | $ | 7,020 |  |  | $ | 82,805 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
CVR liability |  | $ | — |  |  | $ | — |  |  | $ | 7,020 |  |  | $ | 7,020 |
Summary of Balances of Promissory Note Receivable and the Corresponding CVR Liability | The following table presents the changes in fair value of the Promissory Note receivable and the corresponding CVR liability during the three and six months ended June 30, 2026 (in thousands):
|  | Promissory |  |  |  |
| Note Receivable |  | CVR Liability |
Balances at December 31, 2025 |  | $ | 7,020 |  |  | $ | 7,020 |
Change in fair value |  |  | (1,290 | ) |  |  | (1,290 | )
Balances at March 31, 2026 |  |  | 5,730 |  |  |  | 5,730 |
Change in fair value |  |  | (3,170 | ) |  |  | (3,170 | )
Balances at June 30, 2026 |  | $ | 2,560 |  |  | $ | 2,560 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + 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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