Annual report [Section 13 and 15(d), not S-K Item 405]

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

v3.25.0.1
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

5. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

 

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2024 (in thousands):

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

12,151

 

$

—

 

$

—

 

$

12,151

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

—

 

 

9,467

 

 

—

 

 

9,467

U.S. government agency securities

 

 

—

 

 

22,093

 

 

—

 

 

22,093

Corporate debt securities

 

 

—

 

 

100,304

 

 

—

 

 

100,304

 

$

12,151

 

$

131,864

 

$

—

 

$

144,015

 

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2023 (in thousands):

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

7,833

 

$

—

 

$

—

 

$

7,833

Corporate debt securities

 

 

—

 

 

1,862

 

 

—

 

 

1,862

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

 

—

 

 

7,182

 

 

—

 

 

7,182

 

$

7,833

 

$

9,044

 

$

—

 

$

16,877

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities

 

$

—

 

$

—

 

$

39

 

$

39