Fair Value Measurements at
Reporting Date Using

Total

Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)

Significant
Other
Observable
Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

As of December 31, 2024:

Financial assets:

Money market fund

$

29,491

$

29,491

$

—

$

—

U.S. Treasury debt securities

50,036

50,036

—

—

Non-US government securities

2,995

—

2,995

—

Municipal securities

2,492

—

2,492

—

Corporate debt securities

188,239

—

188,239

—

Commercial paper

26,907

—

26,907

—

Total assets measured at fair value on a recurring basis

$

300,160

$

79,527

$

220,633

$

—

Financial liabilities:

Stock price appreciation milestones

$

527

$

—

$

—

$

527

Total financial liabilities measured at fair value on a recurring basis

$

527

$

—

$

—

$

527

As of December 31, 2023:

Financial assets:

Money market fund

$

35,273

$

35,273

$

—

$

—

U.S. Treasury debt securities

82,804

82,804

—

—

Non-US government securities

999

—

999

—

Municipal securities

4,997

—

4,997

—

Corporate debt securities

48,087

—

48,087

—

Commercial paper

137,398

—

137,398

—

Total assets measured at fair value on a recurring basis

$

309,558

$

118,077

$

191,481

$

—

Financial liabilities:

Stock price appreciation milestones

$

1,346

$

—

$

—

$

1,346

Total financial liabilities measured at fair value on a recurring basis

$

1,346

$

—

$

—

$

1,346