XML 44 R32.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Financial Assets and Liabilities Measured on Recurring Basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands):


	December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Treasury securities (1) (3)	$	119,808	$	—	$	—	$	119,808
Money market funds (2) (3)		27,084		—		—		27,084
Total fair value of assets	$	146,892	$	—	$	—	$	146,892


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Treasury securities (2) (3)	$	115,143	$	—	$	—	$	115,143
Total fair value of assets	$	115,143	$	—	$	—	$	115,143

(1)

Included in short-term investments in treasury securities in the consolidated balance sheets. These securities have maturity dates of greater than three months, but less than twelve months from the date of purchase.

(2)

Included in cash and cash equivalents in the consolidated balance sheets. These securities have maturity dates of less than three months from the date of purchase.

(3)

Treasury securities and money market funds are included within Level 1 of the fair value hierarchy because they are actively traded and valued using quoted market prices.