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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of financial assets measured at fair value on a recurring basis by level within the fair value hierarchy | The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of June 30, 2023
​ | ​ | Fair Value | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair Market
​ |  | Hierarchy |  | Cost Basis |  | Gains |  | Losses |  | Value
Cash equivalents: |  |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Money market funds |  | Level 1 | ​ | $ | 31,249 | ​ | $ | — | ​ | $ | — | ​ | $ | 31,249
Marketable securities, available for sale: |  |  | ​ |  | ​ | ​ |  | ​ | ​ |  |  | ​ |  |
Asset-backed securities |  | Level 2 | ​ |  | 17,063 | ​ |  | — | ​ |  | (34) | ​ |  | 17,029
Corporate debt securities |  | Level 2 | ​ |  | 47,909 | ​ |  | 6 | ​ |  | (308) | ​ |  | 47,607
Commercial paper |  | Level 2 | ​ |  | 90,049 | ​ |  | — | ​ |  | — | ​ |  | 90,049
U.S. government treasury and agency securities | ​ | Level 2 | ​ |  | 113,524 | ​ |  | — | ​ |  | (209) | ​ |  | 113,315
Supranational and sovereign government securities | ​ | Level 2 | ​ |  | 10,123 | ​ |  | — | ​ |  | (2) | ​ |  | 10,121
Total financial assets |  |  | ​ | $ | 309,917 | ​ | $ | 6 | ​ | $ | (553) | ​ | $ | 309,370
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2022
​ | ​ | Fair Value | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair Market
​ | ​ | Hierarchy |  | Cost Basis |  | Gains |  | Losses |  | Value
Cash equivalents: |  |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Money market funds |  | Level 1 | ​ | $ | 21,893 | ​ | $ | — | ​ | $ | — | ​ | $ | 21,893
Marketable securities, available for sale: |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Asset-backed securities |  | Level 2 | ​ |  | 23,020 | ​ |  | 8 | ​ |  | (44) | ​ |  | 22,984
Corporate debt securities |  | Level 2 | ​ |  | 54,374 | ​ |  | — | ​ |  | (510) | ​ |  | 53,864
Commercial paper | ​ | Level 2 | ​ | ​ | 144,730 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 144,730
U.S. government treasury and agency securities | ​ | Level 2 | ​ | ​ | 54,672 | ​ | ​ | — | ​ | ​ | (624) | ​ | ​ | 54,048
Supranational and sovereign government securities |  | Level 2 | ​ |  | 54,513 | ​ |  | 13 | ​ |  | (198) | ​ |  | 54,328
Total financial assets |  |  | ​ | $ | 353,202 | ​ | $ | 21 | ​ | $ | (1,376) | ​ | $ | 351,847

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