Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements (Tables)

v3.25.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2025 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

​

$

42,134

​

$

—

​

$

—

​

$

42,134

U.S. treasury bills

​

​

25,934

​

​

—

​

​

—

​

​

25,934

Total cash equivalents

​

​

68,068

​

​

—

​

​

—

​

​

68,068

Investment in equity securities

​

​

8,801

​

​

—

​

​

—

​

​

8,801

Exarafenib milestone asset

​

​

—

​

​

—

​

​

3,402

​

​

3,402

Castle Creek PRV Interest (Note 5)

​

​

—

​

​

—

​

​

—

​

​

—

Castle Creek warrants (Note 5)

​

​

—

​

​

—

​

​

609

​

​

609

Total financial assets

​

$

76,869

​

$

—

​

$

4,011

​

$

80,880

Liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Exarafenib milestone contingent consideration (Note 4)

​

$

—

​

$

—

​

$

3,402

​

$

3,402

Total financial liabilities

​

$

—

​

$

—

​

$

3,402

​

$

3,402

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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

Investment in equity securities

​

​

3,529

​

​

—

​

​

—

​

​

3,529

Exarafenib milestone asset (Note 4)

​

​

—

​

​

—

​

​

3,214

​

​

3,214

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