XML 35 R23.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value on Recurring Basis

The following tables summarize the Company’s financial assets measured at fair value on a recurring basis and their respective input levels based on the fair value hierarchy described in Note 2 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (in thousands):


						Fair Value Measurements Using
As of March 31, 2025		Amount				Level 1				Level 2				Level 3
Assets
Money market funds (1)		$	10,640			$	10,640			$	—			$	—
U.S. government obligations (2)			123,136				—				123,136				—
Total fair value of assets		$	133,776			$	10,640			$	123,136			$	—

(1)

Included in cash and cash equivalents on the balance sheets.

(2)

Included in short-term investments on the balance sheets.


						Fair Value Measurements Using
As of December 31, 2024		Amount				Level 1				Level 2				Level 3
Assets
Money market funds (1)		$	24,889			$	24,889			$	—			$	—
U.S. government obligations (2)			118,289				—				118,289				—
Corporate debt securities (2)			7,238				—				7,238				—
Total fair value of assets		$	150,416			$	24,889			$	125,527			$	—

(1)

Included in cash and cash equivalents on the balance sheets.

(2)

Included in short-term investments on the balance sheets.