Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements (Tables)

v3.25.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Measurements  
Schedule of financial assets and liabilities measured at fair value on a recurring basis

The following tables set forth the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as follows (in thousands):

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​

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Fair Value Measurements as of March 31, 2025 Using:

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​

Quoted Prices in

​

Significant Other

​

Significant

​

​

​

​

​

Active Markets for

​

Observable

​

Unobservable

​

​

​

​

​

Identical Assets

​

Inputs

​

Inputs

​

​

​

​

​

(Level 1)

​

(Level 2)

​

(Level 3)

​

Total

Assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash equivalents:

​

​

​

​

​

​

​

​

​

​

​

​

Money market funds

​

$

58,759

​

$

—

​

$

—

​

$

58,759

U.S. treasury bills

​

​

25,674

​

​

—

​

​

—

​

​

25,674

Total cash equivalents

​

​

84,433

​

​

—

​

​

—

​

​

84,433

Exarafenib milestone asset (Note 4)

​

​

—

​

​

—

​

​

3,307

​

​

3,307

Investment in equity securities

​

​

2,382

​

​

—

​

​

—

​

​

2,382

Castle Creek PRV Interest (Note 5)

​

​

—

​

​

—

​

​

—

​

​

—

Castle Creek warrants (Note 5)

​

​

—

​

​

—

​

​

605

​

​

605

Total financial assets

​

$

86,815

​

$

—

​

$

3,912

​

$

90,727

Liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Exarafenib milestone contingent consideration (Note 4)

​

$

—

​

$

—

​

$

3,307

​

$

3,307

Total financial liabilities

​

$

—

​

$

—

​

$

3,307

​

$

3,307

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of December 31, 2024 Using:

​

​

Quoted Prices in

​

Significant Other

​

Significant

​

​

​

​

​

Active Markets for

​

Observable

​

Unobservable

​

​

​

​

​

Identical Assets

​

Inputs

​

Inputs

​

​

​

​

​

(Level 1)

​

(Level 2)

​

(Level 3)

​

Total

Assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash equivalents:

​

​

​

​

​

​

​

​

​

​

​

​

Money market funds

​

$

72,304

​

$

—

​

$

—

​

$

72,304

U.S. treasury bills

​

​

20,367

​

​

—

​

​

—

​

​

20,367

Total cash equivalents

​

​

92,671

​

​

—

​

​

—

​

​

92,671

Exarafenib milestone asset (Note 4)

​

​

—

​

​

—

​

​

3,214

​

​

3,214

Investment in equity securities

​

​

3,529

​

​

—

​

​

—

​

​

3,529

Total financial assets

​

$

96,200

​

$

—

​

$

3,214

​

$

99,414

Liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Exarafenib milestone contingent consideration (Note 4)

​

$

—

​

$

—

​

$

3,214

​

$

3,214

Total financial liabilities

​

$

—

​

$

—

​

$

3,214

​

$

3,214