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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis | The following tables present the Company’s fair value hierarchy for its assets and liabilities, which are measured at fair value on a recurring basis (in thousands):
|  | Fair Value Measurements at September 30, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 332,707 |  |  | $ | — |  |  | $ | — |  |  | $ | 332,707 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  |  | — |  |  |  | 191,882 |  |  |  | — |  |  |  | 191,882 |
Corporate bonds |  |  | — |  |  |  | 409,841 |  |  |  | — |  |  |  | 409,841 |
Government and agency securities |  |  | — |  |  |  | 120,444 |  |  |  | — |  |  |  | 120,444 |
U.S. treasury bills |  |  | — |  |  |  | 76,898 |  |  |  | — |  |  |  | 76,898 |
|  | $ | 332,707 |  |  | $ | 799,065 |  |  | $ | — |  |  | $ | 1,131,772 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Related party revenue share liability |  | $ | — |  |  | $ | — |  |  | $ | 16,600 |  |  | $ | 16,600 |
|  | Fair Value Measurements at December 31, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Cash equivalents |  | $ | 327,055 |  |  | $ | — |  |  | $ | — |  |  | $ | 327,055 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  |  | — |  |  |  | 67,080 |  |  |  | — |  |  |  | 67,080 |
Corporate bonds |  |  | — |  |  |  | 193,949 |  |  |  | — |  |  |  | 193,949 |
Government and agency securities |  |  | — |  |  |  | 89,027 |  |  |  | — |  |  |  | 89,027 |
U.S. treasury bills |  |  | — |  |  |  | 34,462 |  |  |  | — |  |  |  | 34,462 |
|  | $ | 327,055 |  |  | $ | 384,518 |  |  | $ | — |  |  | $ | 711,573 |
Schedule of Estimated Fair Value of Company's Related Party Revenue Share Liability | The following table sets forth the changes in estimated fair value of the Company’s related party revenue share liability for the nine months ended September 30, 2024, which represents a Level 3 measurement within the fair value hierarchy (in thousands):
Estimated fair value as of December 31, 2023 |  | $ | — |
Change in fair value |  |  | 16,600 |
Estimated fair value as of September 30, 2024 |  | $ | 16,600 |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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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/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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