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Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023
--- | --- | ---
Fair Value of Financial Liabilities |  |
Carrying amount of cash and cash equivalents and short term investments | $ 319,130 | $ 275,846
Fair value of financial assets and liabilities |  |
Marketable Securities | 157,460 | 215,765
Derivative liability | 360 | 1,150
Corporate Debt Securities and Commercial Paper |  |
Fair value of financial assets and liabilities |  |
Marketable Securities | 157,460 | 215,765
Recurring | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Fair value of assets | 306,945 | 261,612
Derivative liability | 360 | 1,150
Recurring | Derivative on Royalty Financing | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Derivative liability | 360 | 1,150
Recurring | Commercial Paper | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Cash Equivalents | 51,230 |
Recurring | Corporate Debt Securities and Commercial Paper | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Marketable Securities | 157,461 | 215,765
Recurring | Money Market Funds | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Cash Equivalents | 98,254 | 45,847
Recurring | Level 1 | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Fair value of assets | 98,254 | 40,868
Recurring | Level 1 | Money Market Funds | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Cash Equivalents | 98,254 | 40,868
Recurring | Level 2 | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Fair value of assets | 208,691 | 220,744
Recurring | Level 2 | Commercial Paper | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Cash Equivalents | 51,230 |
Recurring | Level 2 | Corporate Debt Securities and Commercial Paper | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Marketable Securities | 157,461 | 215,765
Recurring | Level 2 | Money Market Funds | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Cash Equivalents |  | 4,979
Recurring | Level 3 | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Derivative liability | 360 | 1,150
Recurring | Level 3 | Derivative on Royalty Financing | Estimated fair value |  |
Fair value of financial assets and liabilities |  |
Derivative liability | $ 360 | $ 1,150

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- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
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- Definition Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid Investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Short-term investments, exclusive of cash equivalents, generally consist of marketable securities intended to be sold within one year (or the normal operating cycle if longer) and may include trading securities, available-for-sale securities, or held-to-maturity securities (if maturing within one year), as applicable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(9)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. 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