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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Company's Financial Assets

The fair value of the Company’s financial assets by level within the fair value hierarchy were as follows (in thousands):

	September 30, 2024
	Level 1			Level 2			Level 3
Money market fund (cash equivalent)	$	160,443		$	—		$	—
Money market fund (short-term restricted cash)		208			—			—
Certificate of deposit (long-term restricted cash)		—			2,418			—
Marketable securities:
Government agency		—			514,836			—
Total assets measured at fair value	$	160,651		$	517,254		$	—

	December 31, 2023
	Level 1			Level 2			Level 3
Money market fund (cash equivalent)	$	393,096		$	—		$	—
Money market fund (short-term restricted cash)		1,903			—			—
Certificate of deposit (long-term restricted cash)		—			2,418			—
Marketable securities:
Commercial paper		—			26,737			—
Corporate debt		—			5,982			—
Government agency		—			301,884			—
Total assets measured at fair value	$	394,999		$	337,020		$	—

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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

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X

- References

No definition available.

+ Details

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