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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis:

 

 

 

Fair value measurement at reporting date using

 

(in thousands)

 

Quoted prices
in active
markets for
identical
assets
(Level 1)

 

 

Significant
other
observable
inputs
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

December 31, 2024:

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents (Money Market Funds)

 

$

11,246

 

 

$

—

 

 

$

—

 

Marketable securities

 

 

 

 

 

 

 

 

 

   Corporate debt securities

 

 

—

 

 

 

70,076

 

 

 

—

 

   U.S. government securities

 

 

—

 

 

 

51,064

 

 

 

—

 

Total

 

$

11,246

 

 

$

121,140

 

 

$

—

 

 

 

 

 

 

 

 

 

 

December 31, 2023:

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents (Money Market Funds)

 

$

24,369

 

 

$

—

 

 

$

—

 

Marketable securities

 

 

 

 

 

 

 

 

 

   Agency securities

 

 

 

 

 

10,450

 

 

 

 

   Corporate debt securities

 

 

—

 

 

 

67,979

 

 

 

—

 

   U.S. government securities

 

 

—

 

 

 

129,215

 

 

 

—

 

Total

 

$

24,369

 

 

$

207,644

 

 

$

—