Fair Value Measurements of Financial Assets

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements of Financial Assets

3. Fair Value Measurements of Financial Assets

The Company’s financial assets subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows (in thousands):

	As of March 31, 2025
	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market funds	$	54,748	$	—	$	—	$	54,748
Total	$	54,748	$	—	$	—	$	54,748
Marketable Securities:
Corporate debt securities	$	—	$	7,830	$	—	$	7,830
Commercial paper		—		1,989		—		1,989
U.S. Government debt securities		—		10,346		—		10,346
Total	$	—	$	20,165	$	—	$	20,165

	As of December 31, 2024
	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market funds	$	38,066	$	—	$	—	$	38,066
Total	$	38,066	$	—	$	—	$	38,066
Marketable Securities:
Corporate debt securities	$	—	$	24,426	$	—	$	24,426
Commercial paper		—		3,354		—		3,354
U.S. Government debt securities		—		15,940		—		15,940
Total	$	—	$	43,720	$	—	$	43,720

There were no transfers into or out of Level 3 during the three months ended March 31, 2025 and 2024.