FAIR VALUE MEASUREMENTS, CASH EQUIVALENTS AND MARKETABLE SECURITIES (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy of Financial Assets Measured at Fair Value

The following tables represent the fair value hierarchy for the Company’s financial assets measured at fair value on a recurring basis for the periods presented:

	March 31 2026
(in thousands)	Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Money market funds	$	66,552	$	66,552	$	—	$	—
Total cash equivalents	66,552		66,552		—		—
U.S. government treasury bills	753,761		753,761		—		—
Total short-term marketable securities	753,761		753,761		—		—
Total	$	820,313	$	820,313	$	—	$	—

	December 31, 2025
(in thousands)	Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Money market funds	$	63,195	$	63,195	$	—	$	—
U.S. government treasury bills	184,041		184,041		—		—
Total cash equivalents	247,236		247,236		—		—
U.S. government treasury bills	654,703		654,703		—		—
Total short-term marketable securities	654,703		654,703		—		—
Total	$	901,939	$	901,939	$	—	$	—

Schedule of Cash Equivalents and Marketable Debt Securities

The following tables summarize the Company’s cash equivalents and marketable securities’ amortized costs, gross unrealized gains, gross unrealized losses, and estimated fair values by significant investment category:

	March 31, 2026
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Money market funds	$	66,552	$	—	$	—	$	66,552
U.S. government treasury bills	753,827		17		(83)		753,761
Total	$	820,379	$	17	$	(83)	$	820,313

	December 31, 2025
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Money market funds	$	63,195	$	—	$	—	$	63,195
U.S. government treasury bills	838,368		376		—		838,744
Total	$	901,563	$	376	$	—	$	901,939