Short-Term and Long-Term Investments (Tables)

6 Months Ended

Jun. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Summary of Estimated Fair Value of Short-term and Long-term Investments

The following represents a summary of the estimated fair value of short-term and long-term investments at June 30, 2025 and December 31, 2024:

	At June 30, 2025
	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
	(in thousands)
Short-term investments
U.S. Treasury bills	$	214,555	$	90	$	—	$	214,645
Long-term investments
U.S. Treasury notes		31,090		59		—		31,149
Total	$	245,645	$	149	$	—	$	245,794

	At December 31, 2024
	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
	(in thousands)
Short-term investments
U.S. Treasury bills	$	73,078	$	65	$	—	$	73,143
Total	$	73,078	$	65	$	—	$	73,143