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Fair Value (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Summary of the Company's Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy and the valuation techniques that the Company utilized to determine such fair value:
|  | June 30, |  |  |  |  |  |  |  |  |  |
(In thousands) |  | 2024 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency debt securities |  | $ | 256,927 |  |  | $ | 224,306 |  |  | $ | 32,621 |  |  | $ | — |
Corporate debt securities |  |  | 170,297 |  |  |  | — |  |  |  | 170,297 |  |  |  | — |
Total |  | $ | 427,224 |  |  | $ | 224,306 |  |  | $ | 202,918 |  |  | $ | — |
|  | December 31, |  |  |  |  |  |  |  |  |  |
|  | 2023 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 34,316 |  |  | $ | 34,316 |  |  | $ | — |  |  | $ | — |
U.S. government and agency debt securities |  |  | 218,869 |  |  |  | 181,041 |  |  |  | 37,828 |  |  |  | — |
Corporate debt securities |  |  | 131,224 |  |  |  | — |  |  |  | 131,224 |  |  |  | — |
Non-U.S. government debt securities |  |  | 3,996 |  |  |  | — |  |  |  | 3,996 |  |  |  | — |
Total |  | $ | 388,405 |  |  | $ | 215,357 |  |  | $ | 173,048 |  |  | $ | — |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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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