| Summary of Financial Assets Recognized at Fair Value on Recurring Basis |
The Company’s financial assets recognized at fair value on a recurring basis consisted of the following:
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June 30, 2024 |
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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(In thousands) |
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Assets |
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Cash equivalents and restricted cash equivalents |
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$ |
103,947 |
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$ |
103,947 |
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$ |
- |
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$ |
- |
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Marketable securities: |
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U.S. Treasury and other government-backed securities |
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439,073 |
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203,649 |
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|
235,424 |
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|
- |
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Financial institution debt securities |
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227,712 |
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- |
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227,712 |
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- |
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Corporate debt securities |
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105,477 |
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- |
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105,477 |
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- |
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Other asset-backed securities |
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36,762 |
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- |
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36,762 |
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|
- |
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Total marketable securities |
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809,024 |
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203,649 |
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605,375 |
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- |
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Investment in Kyverna Therapeutics, Inc. |
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8,804 |
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8,804 |
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- |
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- |
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Total assets |
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$ |
921,775 |
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$ |
316,400 |
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$ |
605,375 |
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$ |
- |
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December 31, 2023 |
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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(In thousands) |
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Assets |
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Cash equivalents and restricted cash equivalents |
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$ |
136,254 |
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$ |
136,254 |
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$ |
- |
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|
$ |
- |
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Marketable securities: |
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U.S. Treasury and other government-backed securities |
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382,308 |
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|
120,556 |
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|
261,752 |
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|
|
- |
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Financial institution debt securities |
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|
246,119 |
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|
- |
|
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|
246,119 |
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|
- |
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Corporate debt securities |
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|
97,408 |
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- |
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97,408 |
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- |
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Other asset-backed securities |
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59,504 |
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- |
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59,504 |
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- |
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Total marketable securities |
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785,339 |
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|
120,556 |
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664,783 |
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- |
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Total assets |
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$ |
921,593 |
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$ |
256,810 |
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$ |
664,783 |
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$ |
- |
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