Quarterly report [Sections 13 or 15(d)]

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

v3.25.1
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

5. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

 

The following table presents 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 March 31, 2025 (in thousands):

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

15,394

 

 

$

—

 

 

$

—

 

 

$

15,394

 

Corporate debt securities

 

 

—

 

 

 

1,151

 

 

 

—

 

 

 

1,151

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

—

 

 

 

7,541

 

 

 

—

 

 

 

7,541

 

U.S. government agency securities

 

 

—

 

 

 

17,680

 

 

 

—

 

 

 

17,680

 

Commercial paper

 

 

—

 

 

 

4,404

 

 

 

—

 

 

 

4,404

 

Corporate debt securities

 

 

—

 

 

 

84,262

 

 

 

—

 

 

 

84,262

 

 

$

15,394

 

 

$

115,038

 

 

$

—

 

 

$

130,432

 

 

The following table presents 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