Short-Term Investments

3 Months Ended

Mar. 31, 2025

Short-Term Investments [Abstract]

Short-Term Investments

5. Short-Term Investments

The following is a summary of our short-term investments (in thousands):

	March 31, 2025
			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
	Cost		Gains		Losses			Fair Value
U.S. Treasury bills and government agency obligations	$	19,801	$	1	$	(1	)	$	19,801
U.S. corporate debt securities		8,223		1		—			8,224
Foreign corporate debt securities		1,804		—		—			1,804
U.S. commercial paper		688		—		—			688
Foreign commercial paper		893		—		—			893
Total	$	31,409	$	2	$	(1	)	$	31,410

	December 31, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
U.S. Treasury bills and government agency obligations	$	14,860	$	8	$	—	$	14,868
U.S. corporate debt securities		11,699		3		—		11,702
Foreign corporate debt securities		5,911		2		—		5,913
Foreign commercial paper		998		—		—		998
Total	$	33,468	$	13	$	—	$	33,481

The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. We regularly monitor and evaluate the realizable value of our marketable securities. We did not recognize any impairment losses during the three months ended March 31, 2025, and 2024.

Unrealized gains and losses associated with our investments are reported in accumulated other comprehensive income. Realized gains and losses associated with our investments, if any, are reported in the statements of operations and comprehensive income (loss). We did not recognize any realized gains or losses during the three months ended March 31, 2025, and 2024.