Fair Value Measurements

6 Months Ended

Jun. 30, 2025

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 June 30, 2025 and December 31, 2024 (in thousands):

	Fair Value Measurements at June 30, 2025
	Total		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	42,588	$	42,588	$	—	$	—
Marketable securities:
U.S. Treasury securities		9,990		—		9,990		—
Government agency securities		13,786		—		13,786		—
Corporate bonds		147,747		—		147,747		—
Total	$	214,111	$	42,588	$	171,523	$	—

	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	$	—

There were no transfers between fair value levels during the three and six months ended June 30, 2025.