FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The Company’s financial assets and liabilities subject to fair value measurement on a recurring basis and the level of inputs used for such measurements were as follows (in thousands):


	Fair value measurements as of June 30, 2025 using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at June 30, 2025
Assets included in:
Cash and cash equivalents
Money market securities	$	36,578	$	—	$	—	$	36,578

Marketable securities
Corporate debt securities	—		111,331		—		111,331
Government and agency - U.S.	—		18,025		—		18,025
Total fair value	$	36,578	$	129,356	$	—	$	165,934
Liabilities included in:
Debt, long-term
Embedded derivatives liability	$	—	$	—	$	820	$	820
Total fair value	$	—	$	—	$	820	$	820


	Fair value measurements as of December 31, 2024 using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at December 31, 2024
Assets included in:
Cash and cash equivalents
Money market securities	$	35,268	$	—	$	—	$	35,268
Marketable securities
Corporate debt securities	—		178,901		—		178,901

Government and agency - U.S.	—		16,997		—		16,997
Total fair value	$	35,268	$	195,898	$	—	$	231,166
Liabilities included in:
Debt, long-term
Embedded derivatives liability	$	—	$	—	$	970	$	970
Total fair value	$	—	$	—	$	970	$	970

Schedule of the Fair Value using Level 3 Significant Unobservable Inputs

The following table presents changes in Level 3 liabilities measured at fair value for the six months ended June 30, 2025 (in thousands):


Balance, December 31, 2024	$	970
Change in fair value of embedded derivatives	(150)
Balance, June 30, 2025	$	820