Fair Value Measurements

6 Months Ended

Jun. 30, 2026

Fair Value Measurements

Fair Value Measurements

3.Fair Value Measurements

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands):

	Fair Value Measurements as of
	June 30, 2026
	Level 1		Level 2		Level 3		Total
Financial assets:
Cash equivalents:
Money market funds	$	15,065	$	—	$	—	$	15,065
Total financial assets	$	15,065	$	—	$	—	$	15,065

	Fair Value Measurements as of
	December 31, 2025
	Level 1		Level 2		Level 3		Total
Financial assets:
Cash equivalents:
Money market funds	$	20,011	$	—	$	—	$	20,011
Short-term investments
U.S. Treasury Notes		10,077		—		—		10,077
Total financial assets	$	30,088	$	—	$	—	$	30,088

The Company did not have any Level 3 assets or liabilities as of June 30, 2026 and December 31, 2025. There were no transfers between Levels during the periods presented.

The unrealized losses on the Company’s short-term investments for the three and six months ended June 30, 2026 and 2025 were not material.