FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2025

FAIR VALUE OF FINANCIAL INSTRUMENTS

SCHEDULE OF FAIR VALUE INSTRUMENTS

The following tables summarize the Company’s financial assets measured at fair value on a recurring basis and their respective input levels based on the fair value hierarchy (in thousands):

			Fair Value Measurements Using
			Quoted Prices in
			Active Markets		Significant Other		Significant
			for Identical		Observable		Unobservable
	March 31,		Assets		Inputs		Inputs
	2025		(Level 1)		(Level 2)		(level 3)
Assets:
Cash equivalents
Money market funds	$	43,192	$	43,192	$	—	$	—
Total cash equivalents		43,192		43,192		—		—
Short-term investments
Agency bonds		18,527		—		18,527		—
Corporate debt securities		9,025		—		9,025		—
U.S. Treasury bills		4,438		4,438		—		—
Total short-term investments		31,990		4,438		27,552		—
Total fair value of assets	$	75,182	$	47,630	$	27,552	$	—

			Fair Value Measurements Using
			Quoted Prices in
			Active Markets		Significant Other		Significant
			for Identical		Observable		Unobservable
	December 31,		Assets		Inputs		Inputs
	2024		(Level 1)		(Level 2)		(level 3)
Assets:
Cash equivalents
Money market funds	$	33,529	$	33,529	$	—	$	—
Total cash equivalents		33,529		33,529		—		—
Short-term investments
Agency bonds		27,429		—		27,429		—
Corporate debt securities		9,057		—		9,057		—
U.S. Treasury bills		8,386		8,386		—		—
Total short-term investments		44,872		8,386		36,486		—
Total fair value of assets	$	78,401	$	41,915	$	36,486	$	—

SCHEDULE OF SHORT TERM INVESTMENTS

The following tables summarize the Company’s short-term investments (in thousands):

		As of March 31, 2025
				Gross		Gross
		Amortized		unrealized		unrealized		Estimated fair
	Maturity	cost		gains		losses		value
Agency bonds	1 year or less		18,497		30		—		18,527
Corporate debt securities	1 year or less		9,005		20		—		9,025
U.S. Treasury bills	1 year or less		4,438		—		—		4,438
		$	31,940	$	50	$	—	$	31,990

		As of December 31, 2024
				Gross		Gross
		Amortized		unrealized		unrealized		Estimated fair
	Maturity	cost		gains		losses		value
Agency bonds	1 year or less	$	27,358		71		—	$	27,429
Corporate debt securities	1 year or less		9,031		27		(1)		9,057
U.S. Treasury bills	1 year or less		8,378		8		—		8,386
		$	44,767	$	106	$	(1)	$	44,872

SCHEDULE OF SHORT-TERM INVESTMENTS WITH UNREALIZED LOSSES

The Company did not hold any short-term investments with unrealized loss positions as of March 31, 2025. The following tables summarize the Company’s short-term investments with unrealized losses for less than 12 months and 12 months or greater as of December 31, 2024 (in thousands):

		As of December 31, 2024
		Less than 12 months			12 months or greater
			Unrealized				Unrealized		Total		Total Unrealized
		Fair Value	Losses		Fair Value		Losses		Fair Value		Losses
Corporate debt securities	$	2,016	$	(1)	$	—	$	—	$	2,016	$	(1)
	$	2,016	$	(1)	$	—	$	—	$	2,016	$	(1)