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Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value of Financial Assets and Liabilities

Schedule of financial assets and liabilities measured at fair value on a recurring basis

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Fair Value Measurements as of

​

​

December 31, 2023 using:

​

Level 1

Level 2

Level 3

Total

Assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash equivalents:

​

​

​

​

Money market funds

​

$

40,868

​

$

4,979

​

$

—

​

$

45,847

Marketable securities:

​

​

​

​

Corporate debt securities and commercial paper

​

​

—

​

​

215,765

​

​

—

​

​

215,765

Total

​

$

40,868

​

$

220,744

​

$

—

​

$

261,612

Liabilities:

​

​

​

​

Derivative liability

​

$

—

​

$

—

​

$

1,150

​

$

1,150

Total

​

$

—

​

$

—

​

$

1,150

​

$

1,150

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements as of

​

​

December 31, 2022 using:

​

Level 1

Level 2

Level 3

Total

Assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash equivalents:

​

​

​

​

Commercial paper

​

$

—

​

$

8,484

​

$

—

​

$

8,484

Money market funds

​

99,962

​

—

​

—

​

99,962

Marketable securities:

​

​

​

​

Corporate debt securities and commercial paper

​

​

—

​

​

205,611

​

​

—

​

​

205,611

Total

​

$

99,962

​

$

214,095

​

$

—

​

$

314,057

Liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Derivative liability

​

$

—

​

$

—

​

$

1,340

​

$

1,340

Total

​

$

—

​

$

—

​

$

1,340

​

$

1,340

Schedule of estimated fair value of embedded derivative liability

​

​	​	​	​	​	​	​
​	​	Year ended
​	​	December 31,
​		2023			2022
Beginning aggregate estimated fair value of Level 3 liabilities	​	$	1,340	​	$	—
Initial recording of embedded derivative	​	​	—	​	​	1,590
Change in fair value of embedded derivative	​	​	(190)	​	​	(250)
Ending aggregate estimated fair value of Level 3 liabilities	​	$	1,150	​	$	1,340
​	​	​	​	​	​	​
​	​	Year ended
​	​	December 31,
​		2023			2022
Beginning aggregate estimated fair value of Level 3 securities	​	$	—	​	$	—
Initial recording of RareStone equity	​	​	—	​	​	1,040
Realized loss included in other expense	​	​	—	​	​	(1,040)
Ending aggregate estimated fair value of Level 3 securities	​	$	—	​	$	—

Schedule of marketable securities

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​

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​

​

​

​

​

​

​

​

​

​

​

December 31, 2023

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

​

Cost

Gains

Losses

Value

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Corporate debt securities and commercial paper (due within 1 year)

​

$

215,491

​

$

282

​

$

(7)

​

$

215,765

​

​

$

215,491

​

$

282

​

$

(7)

​

$

215,765

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2022

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

​

Cost

Gains

Losses

Value

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Corporate debt securities and commercial paper (due within 1 year)

​

$

205,702

​

$

—

​

$

(91)

​

$

205,611

​

​

$

205,702

​

$

—

​

$

(91)

​

$

205,611

​

X

- References

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- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

No definition available.

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- Definition

Tabular disclosure of derivative liabilities at fair value.

+ References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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