FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2024

FAIR VALUE MEASUREMENTS:

Schedule of Assets Measured at Fair Value on a Recurring Basis (in Thousands):

	Fair Value Measurements Using
			Quoted
			Prices in
			Active		Significant
			Markets for		Other
			Identical		Observable		Significant
	September 30,		Assets		Inputs		Unobservable
Assets	2024		(Level 1)		(Level 2)		Inputs (Level 3)
Cash equivalents
Money market mutual funds	$	80,830	$	80,830	$	—	$	—
Short-term investments (available-for-sale debt securities)
U.S. Government securities (1)		23,724		23,724		—		—
Non-current assets
Convertible note receivable (available-for-sale debt security) (2)		2,013		—		—		2,013
Total	$	106,567	$	104,554	$	—	$	2,013

	Fair Value Measurements Using
			Quoted
			Prices in
			Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
	December 31,		Assets		Inputs		Inputs
Assets	2023		(Level 1)		(Level 2)		(Level 3)
Cash equivalents
Money market mutual funds	$	83,810	$	83,810	$	—	$	—
Short-term investments (available-for-sale debt securities)
U.S. Government securities (1)		36,544		36,544		—		—
Total	$	120,354	$	120,354	$	—	$	—

(1) As of September 30, 2024, and December 31, 2023, the amortized cost of the Company’s investments in U.S. Government securities approximated their fair value due to their short-term maturities, and there have been no events or changes in circumstances that would have had a significant effect on the fair value of these securities in the periods presented. For the three and nine months ended September 30, 2024, there were no material realized or unrealized gains or losses, either individually or in the aggregate.

(2) In August 2024, the Company purchased a $2.0 million non-marketable convertible promissory note from an unrelated third party (the “convertible note”). The convertible note bears a 5% interest rate annually and will mature in August 2026 and is included in other non-current assets in the accompanying condensed consolidated balance sheet as of September 30, 2024. As of September 30, 2024, the cost of the convertible note approximated its fair value as there have been no events or changes in circumstances that would have had a significant effect on its fair value from its issuance date to reporting period end.