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Investments (Tables)
 9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Estimated Fair Value of Investments

The following tables summarize the amortized cost and estimated fair value of the Company’s available-for-sale investments as of September 30, 2025 and December 31, 2024 (in thousands):

 

 

 

September 30, 2025

 

 

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

83,733

 

 

$

106

 

 

$

(1

)

 

$

83,838

 

U.S. government-sponsored enterprise securities

 

 

10,003

 

 

 

8

 

 

 

—

 

 

 

10,011

 

Long-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

5,109

 

 

 

—

 

 

 

(1

)

 

 

5,108

 

 

$

98,845

 

 

$

114

 

 

$

(2

)

 

$

98,957

 

 

 

 

 

December 31, 2024

 

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

129,294

 

 

$

436

 

 

$

—

 

 

$

129,730

 

U.S. government-sponsored enterprise securities

 

 

9,926

 

 

 

6

 

 

 

—

 

 

 

9,932

 

Long-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

5,084

 

 

 

5

 

 

 

—

 

 

 

5,089

 

 

$

144,304

 

 

$

447

 

 

$

—

 

 

$

144,751