| Schedule of Fair Value, Financial Assets Measured on Recurring Basis |
The following fair value hierarchy table presents information about the Company’s financial assets measured and carried at fair value (amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Fair value measurement at reporting date using | | Quoted prices
in active markets for
identical assets
(Level 1) | | Significant
other
observable inputs (Level 2) | | Significant
unobservable inputs
(Level 3) | | Total | | March 31, 2025 | | | | | | | | | Assets | | | | | | | | | Money Market fund | $ | 47,453 | | | $ | — | | | $ | — | | | $ | 47,453 | | U.S. Treasury and government agency securities | 129,716 | | | 63,695 | | | — | | | 193,411 | | | Corporate debt securities | — | | | 92,361 | | | — | | | 92,361 | | | Commercial Paper | — | | | 53,896 | | | — | | | 53,896 | | Total | $ | 177,169 | | | $ | 209,951 | | | $ | — | | | $ | 387,121 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | | | | | | | | Assets | | | | | | | | | Money Market fund | $ | 217,515 | | | $ | — | | | $ | — | | | $ | 217,515 | | | U.S. Treasury securities | 171,885 | | | — | | | — | | | 171,885 | | | $ | 389,400 | | | $ | — | | | $ | — | | | $ | 389,400 | |
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| Schedule of Debt Securities, Fair Value of U.S. Treasury Securities and Money Market Fund |
The following represents the amortized cost bases and fair values of the Company’s fixed income investments as of March 31, 2025 (amounts in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Money Market fund, included in Cash and cash equivalents | $ | 47,453 | | | $ | — | | | $ | — | | | $ | 47,453 | | | | | | | | | | | U.S. government Treasury and agency securities, included in: | | | | | | | | | Cash and cash equivalents | $ | 9,957 | | | $ | — | | | $ | (1) | | | $ | 9,956 | | | Short-term investments | 125,684 | | | 20 | | | (20) | | | 125,684 | | | Long-term investments | 57,783 | | | 30 | | | (42) | | | 57,771 | | | Total U.S. Treasury securities | $ | 193,424 | | | $ | 50 | | | $ | (63) | | | $ | 193,411 | | | | | | | | | | | Corporate debt securities, included in: | | | | | | | | | Short-term investments | $ | 9,739 | | | $ | — | | | $ | (2) | | | $ | 9,737 | | | Long-term investments | 82,602 | | | 59 | | | (36) | | | 82,624 | | | Total Corporate debt securities | $ | 92,341 | | | $ | 59 | | | $ | (38) | | | $ | 92,361 | | | | | | | | | | | Commercial paper, included in: | | | | | | | | | Cash and cash equivalents | $ | 9,970 | | | $ | — | | | $ | (2) | | | $ | 9,968 | | | Short-term investments | 43,923 | | | 9 | | | (5) | | | 43,928 | | | Total Commercial paper | $ | 53,893 | | | $ | 9 | | | $ | (7) | | | $ | 53,896 | | | | | | | | | | In aggregate: | | | | | | | | Investments above with no unrealized loss | $ | 205,208 | | | $ | 119 | | | $ | — | | | $ | 205,327 | | Investments above with unrealized loss | 181,904 | | | — | | | (110) | | | 181,794 | | Total investments | $ | 387,112 | | | $ | 119 | | | $ | (110) | | | $ | 387,121 | |
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