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Fair Value Measurement (Tables) | 12 Months Ended
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Dec. 31, 2024
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the level of the fair value hierarchy to determine such fair value as of December 31, 2024 and 2023 (in thousands):
|  |  |  |  | Fair Value Measurements at December 31, 2024: |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 38,442 |  |  | $ | 38,442 |  |  | $ | — |  |  | $ | — |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  |  | 129,730 |  |  |  | 129,730 |  |  |  | — |  |  |  | — |
U.S. government-sponsored enterprise securities |  |  | 9,932 |  |  |  | — |  |  |  | 9,932 |  |  |  | — |
Long-term investments: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  |  | 5,089 |  |  |  | 5,089 |  |  |  | — |  |  |  | — |
Total assets |  | $ | 183,193 |  |  | $ | 173,261 |  |  | $ | 9,932 |  |  | $ | — |
|  |  |  |  | Fair Value Measurements at December 31, 2023: |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 31,191 |  |  | $ | 31,191 |  |  | $ | — |  |  | $ | — |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  |  | 41,473 |  |  |  | 41,473 |  |  |  | — |  |  |  | — |
U.S. government-sponsored enterprise securities |  |  | 49,970 |  |  |  | — |  |  |  | 49,970 |  |  |  | — |
Total assets |  | $ | 122,634 |  |  | $ | 72,664 |  |  | $ | 49,970 |  |  | $ | — |

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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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