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Cash, Cash Equivalents and Investments (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Summary of Financial Assets Measured at Fair Value | The following tables show the Company’s cash, cash equivalents and investments by significant investment category as of June 30, 2024 and December 31, 2023 in accordance with the fair value hierarchy (in thousands):
| June 30, 2024
| Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Short-Term Investments |  | Long-Term Investments
Cash | $ | 17,227 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,227 |  |  | $ | 17,227 |  |  | $ | — |  |  | $ | — |
Level 1 (1): |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | $ | 169,327 |  |  | $ | — |  |  | $ | — |  |  | $ | 169,327 |  |  | $ | 169,327 |  |  | $ | — |  |  | $ | — |
Level 2 (2): |  |  |  |  |  |  |  |  |  |  |  |  |
Treasury bills | $ | 996 |  |  | $ | — |  |  | $ | — |  |  | $ | 996 |  |  | $ | — |  |  | $ | 996 |  |  | $ | — |
U.S. government bonds | $ | 32,242 |  |  | $ | 2 |  |  | $ | (44) |  |  | $ | 32,201 |  |  | $ | 3,541 |  |  | $ | 17,119 |  |  | $ | 11,541 |
U.S. agency securities | $ | 9,360 |  |  | $ | — |  |  | $ | (16) |  |  | $ | 9,345 |  |  | $ | — |  |  | $ | 5,474 |  |  | $ | 3,871 |
Commercial paper | $ | 15,293 |  |  | $ | — |  |  | $ | (5) |  |  | $ | 15,288 |  |  | $ | — |  |  | $ | 15,288 |  |  | $ | — |
Corporate debt securities | $ | 50,260 |  |  | $ | 35 |  |  | $ | (56) |  |  | $ | 50,239 |  |  | $ | — |  |  | $ | 25,933 |  |  | $ | 24,306 |
Certificates of deposit | $ | 3,009 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,009 |  |  | $ | — |  |  | $ | 3,009 |  |  | $ | — |
Subtotal | $ | 111,160 |  |  | $ | 37 |  |  | $ | (121) |  |  | $ | 111,078 |  |  | $ | 3,541 |  |  | $ | 67,819 |  |  | $ | 39,718 |
Total | $ | 297,714 |  |  | $ | 37 |  |  | $ | (121) |  |  | $ | 297,632 |  |  | $ | 190,095 |  |  | $ | 67,819 |  |  | $ | 39,718 |
| December 31, 2023
| Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Short-Term Investments |  | Long-Term Investments
Cash | $ | 24,247 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,247 |  |  | $ | 24,247 |  |  | $ | — |  |  | $ | — |
Level 1 (1): |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | $ | 190,610 |  |  | $ | — |  |  | $ | — |  |  | $ | 190,610 |  |  | $ | 190,610 |  |  | $ | — |  |  | $ | — |
Level 2 (2): |  |  |  |  |  |  |  |  |  |  |  |  |
Treasury bills | $ | 1,485 |  |  | $ | — |  |  | $ | (2) |  |  | $ | 1,483 |  |  | $ | — |  |  | $ | 1,483 |  |  | $ | — |
U.S. government bonds | $ | 9,553 |  |  | $ | 20 |  |  | $ | (11) |  |  | $ | 9,562 |  |  | $ | — |  |  | $ | 4,387 |  |  | $ | 5,175 |
U.S. agency securities | $ | 23,843 |  |  | $ | 2 |  |  | $ | (22) |  |  | $ | 23,823 |  |  | $ | — |  |  | $ | 23,823 |  |  | $ | — |
Commercial paper | $ | 16,983 |  |  | $ | 9 |  |  | $ | (1) |  |  | $ | 16,991 |  |  | $ | 6,908 |  |  | $ | 10,083 |  |  | $ | — |
Corporate debt securities | $ | 47,951 |  |  | $ | 91 |  |  | $ | (45) |  |  | $ | 47,997 |  |  | $ | — |  |  | $ | 31,677 |  |  | $ | 16,320 |
Certificates of deposit | $ | 3,004 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,004 |  |  | $ | — |  |  | $ | 3,004 |  |  | $ | — |
Subtotal | $ | 102,819 |  |  | $ | 122 |  |  | $ | (80) |  |  | $ | 102,860 |  |  | $ | 6,908 |  |  | $ | 74,457 |  |  | $ | 21,495 |
Total | $ | 317,676 |  |  | $ | 122 |  |  | $ | (80) |  |  | $ | 317,717 |  |  | $ | 221,765 |  |  | $ | 74,457 |  |  | $ | 21,495 |
(1) Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities. (2) Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

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- Definition Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + References Reference 1: 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 Reference 2: 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 + Details
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