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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Financial Instruments Carried at Fair Value on Recurring Basis

The following tables present the financial instruments carried at fair value on a recurring basis as of December 31, 2024 and 2023, respectively, in accordance with the fair value hierarchy (in thousands):

 

 

December 31, 2024

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents

 

 

 

 

 

 

 

 

 

 

 

Money market funds

$

9,491

 

 

$

 

 

$

 

 

$

9,491

 

Marketable debt securities

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

107,458

 

 

 

 

 

 

 

 

 

107,458

 

Total

$

116,949

 

 

$

 

 

$

 

 

$

116,949

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash Equivalents

 

 

 

 

 

 

 

 

 

 

 

Money market funds

$

8,360

 

 

$

 

 

$

 

 

$

8,360

 

Marketable debt securities

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

109,634

 

 

 

 

 

 

 

 

 

109,634

 

Total

$

117,994

 

 

$

 

 

$

 

 

$

117,994