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FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The Company’s financial assets that are measured at fair value as of December 31, 2024 and 2023 are classified in the tables below in one of the three categories described in "Note 2(p)—Fair value measurement" above:
December 31, 2024
(in thousands)Level 1Level 2Level 3Total
Cash and cash equivalents
$19,926 $— $— $19,926 
Marketable securities— 41,590 — 41,590 
Total assets$19,926 $41,590 $— $61,516 
December 31, 2023
(in thousands)Level 1Level 2Level 3Total
Cash and cash equivalents
$20,353 $10,267 $— $30,620 
Marketable securities— 62,633 — 62,633 
Total assets$20,353 $72,900 $— $93,253 
Other financial instruments consist of trade receivables, trade payables and accrued expenses. The fair value of these financial instruments approximates their carrying values due to their short-term nature. In determining the fair value of its Level 2 investments, the Company relied on quoted prices for identical securities in markets that are not active. These quoted prices were obtained by the Company with the assistance of a third-party pricing service based on available trade, bid and other observable market data for identical securities.