| Summery of Fair Value Assets Measured On Recurring Basis |
The following table summarizes cash equivalents, marketable securities and contingent consideration measured at their fair value on a recurring basis as of September 30, 2026 and December 31, 2025:
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Fair Value Measurements as of September 30, 2026: |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Cash equivalents: |
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Money market funds |
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$ |
9,357,405 |
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$ |
— |
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$ |
— |
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$ |
9,357,405 |
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Total |
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$ |
9,357,405 |
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$ |
— |
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$ |
— |
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$ |
9,357,405 |
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Marketable securities, available-for-sale: |
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U.S. Treasury obligations |
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$ |
141,619,768 |
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$ |
- |
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$ |
- |
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$ |
141,619,768 |
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Total |
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$ |
141,619,768 |
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$ |
— |
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$ |
— |
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$ |
141,619,768 |
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Fair Value Measurements as of December 31, 2025: |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Cash equivalents: |
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Money market funds |
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$ |
14,824,866 |
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$ |
— |
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$ |
— |
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$ |
14,824,866 |
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Total |
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$ |
14,824,866 |
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$ |
— |
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$ |
— |
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$ |
14,824,866 |
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Marketable securities, available-for-sale: |
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U.S. Treasury obligations |
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$ |
39,543,820 |
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$ |
— |
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$ |
— |
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$ |
39,543,820 |
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Total |
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$ |
39,543,820 |
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$ |
— |
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$ |
— |
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$ |
39,543,820 |
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Other current liabilities: |
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Contingent consideration (see Note 9) |
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$ |
— |
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$ |
— |
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$ |
3,061,501 |
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$ |
3,061,501 |
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Total |
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$ |
— |
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$ |
— |
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$ |
3,061,501 |
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$ |
3,061,501 |
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