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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following is a summary of assets and liabilities measured at fair value on a recurring basis (in thousands):


	September 30, 2023
	Level 1		Level 2		Level 3		Total

Cash and cash equivalents:
Cash	$	9,303	$	—	$	—	$	9,303
Cash equivalents	277,784		—		—		$	277,784
Total cash and cash equivalents	$	287,087	$	—	$	—	$	287,087


Loan facility derivative liability	$	—	$	—	$	1,859	$	1,859


	December 31, 2022
	Level 1		Level 2		Level 3		Total

Cash and cash equivalents:
Cash	$	8,870	$	—	$	—	$	8,870
Cash equivalents	212,989		—		—		212,989
Total cash and cash equivalents	$	221,859	$	—	$	—	$	221,859


Loan facility derivative liability	$	—	$	—	$	1,779	$	1,779

Schedule of Derivative Liabilities at Fair Value

The following table sets forth a summary of the changes in the estimated fair value of the Company’s loan facility derivative liability, classified as Level 3 (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022

Beginning of the period	$	1,832	$	1,570	$	1,779	$	1,496
Change in fair value	27		39		80		113
End of the period	$	1,859	$	1,609	$	1,859	$	1,609