Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

The following tables summarize the Company’s assets by significant categories carried at fair value measured on a recurring basis by valuation hierarchy (in thousands):

	March 31, 2025
	Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Level 1:
Money market funds	$	74,478	$	—	$	—		$	74,478	$	74,478	$	—
Subtotal	$	74,478	$	—	$	—		$	74,478	$	74,478	$	—
Level 2:
Commercial paper	$	76,510	$	6	$	(3	)	$	76,513	$	—	$	76,513
U.S. Treasury securities		128,784		81		(6	)		128,859		—		128,859
U.S. Agency securities		27,659		9		(4	)		27,664		—		27,664
Subtotal	$	232,953	$	96	$	(13	)	$	233,036	$	—	$	233,036
Total	$	307,431	$	96	$	(13	)	$	307,514	$	74,478	$	233,036

	December 31, 2024
	Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Level 1:
Money market funds	$	95,859	$	—	$	—		$	95,859	$	95,859	$	—
Subtotal	$	95,859	$	—	$	—		$	95,859	$	95,859	$	—
Level 2:
Commercial paper	$	94,817	$	26	$	(1	)	$	94,842	$	—	$	94,842
U.S. Treasury securities		114,599		120		(8	)		114,711		—		114,711
U.S. Agency securities		61,605		53		(2	)		61,656		—		61,656
Subtotal	$	271,021	$	199	$	(11	)	$	271,209	$	—	$	271,209
Total	$	366,880	$	199	$	(11	)	$	367,068	$	95,859	$	271,209