Fair Value Measurements

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

3. Fair Value Measurements

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the fair value hierarchy classification of such fair values as of December 31, 2024 and 2023 (in thousands):

	Fair Value Measurements at December 31, 2024
	Total		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	45,722	$	45,722	$	—	$	—
U.S. Treasury securities		12,490		—		12,490		—
Marketable securities:
U.S. Treasury securities		2,496		—		2,496		—
Government agency securities		11,282		—		11,282		—
Corporate bonds		169,031		—		169,031		—
Total	$	241,021	$	45,722	$	195,299	$	—

	Fair Value Measurements at December 31, 2023
	Total		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	25,563	$	25,563	$	—	$	—
Marketable securities:
U.S. Treasury securities		14,215		—		14,215		—
Government agency securities		65,107		—		65,107		—
Commercial paper		17,889		—		17,889		—
Corporate bonds		113,447		—		113,447		—
Total	$	236,221	$	25,563	$	210,658	$	—

There were no transfers between fair value levels during the years ended December 31, 2024 and 2023.