Fair Value of Financial Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value of Financial Assets and Liabilities

Schedule of assets and liabilities measured at fair value on a recurring and non-recurring basis

	March 31, 2025
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	27,447	$	—	$	—	$	27,447
Marketable securities		—		160,168		—		160,168
Total assets	$	27,447	$	160,168	$	—	$	187,615
Liabilities:
Contingent consideration	$	—	$	—	$	9,000	$	9,000
Total liabilities	$	—	$	—	$	9,000	$	9,000

	December 31, 2024
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	22,245	$	—	$	—	$	22,245
Marketable securities		—		179,326		—		179,326
Total assets	$	22,245	$	179,326	$	—	$	201,571
Liabilities:
Contingent consideration	$	—	$	—	$	8,700	$	8,700
Total liabilities	$	—	$	—	$	8,700	$	8,700

Schedule of the fair value of available for sale marketable securities

	March 31, 2025
			Gross		Gross
	Book		Unrealized		Unrealized		Fair
(In thousands)	Value		Gain		Loss		Value
Marketable securities:
Corporate debt securities(1)	$	100,332	$	298	$	(56)	$	100,574
Commercial paper		4,774		1		—		4,775
Foreign government agency debt securities		4,977		8		—		4,985
U.S. government and government agency debt securities(2)		49,651		188		(5)		49,834
Total marketable securities	$	159,734	$	495	$	(61)	$	160,168

(1) Included in Corporate debt securities is $49.6 million with maturity dates between one and three years.

(2) Included in U.S. government and government agency debt securities is $35.6 million with maturity dates between one and three years.

	December 31, 2024
			Gross		Gross
	Book		Unrealized		Unrealized		Fair
(In thousands)	Value		Gain		Loss		Value
Marketable securities:
Corporate debt securities(1)	$	105,154	$	192	$	(156)	$	105,190
Commercial paper		4,720		—		(1)		4,719
Foreign government agency debt securities		4,911		16		—		4,927
U.S. government and government agency debt securities(2)		64,454		47		(11)		64,490
Total marketable securities	$	179,239	$	255	$	(168)	$	179,326

(1) Included in Corporate debt securities is $59.8 million with maturity dates between one and three years.

(2) Included in U.S. government and government agency debt securities is $30.5 million with maturity dates between one and three years.