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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 30, 2024
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, 2024
​ | ​ | Fair Value | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair Market
​ |  | Hierarchy |  | Cost Basis |  | Gains |  | Losses |  | Value
Cash equivalents: |  |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Money market funds |  | Level 1 | ​ | $ | 43,289 | ​ | $ | — | ​ | $ | — | ​ | $ | 43,289
Marketable securities, available for sale: |  |  | ​ |  | ​ | ​ |  | ​ | ​ |  |  | ​ |  |
Asset-backed securities |  | Level 2 | ​ |  | 51,995 | ​ |  | 1 | ​ |  | (155) | ​ |  | 51,841
Corporate debt securities |  | Level 2 | ​ |  | 159,931 | ​ |  | 8 | ​ |  | (305) | ​ |  | 159,634
Commercial paper |  | Level 2 | ​ |  | 24,943 | ​ |  | — | ​ |  | (24) | ​ |  | 24,919
U.S. government treasury and agency securities | ​ | Level 2 | ​ |  | 199,150 | ​ |  | 2 | ​ |  | (503) | ​ |  | 198,649
Supranational and sovereign government securities | ​ | Level 2 | ​ |  | 33,301 | ​ |  | — | ​ |  | (78) | ​ |  | 33,223
Total financial assets |  |  | ​ | $ | 512,609 | ​ | $ | 11 | ​ | $ | (1,065) | ​ | $ | 511,555
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2023
​ | ​ | Fair Value | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair Market
​ | ​ | Hierarchy |  | Cost Basis |  | Gains |  | Losses |  | Value
Cash equivalents: |  |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Money market funds |  | Level 1 | ​ | $ | 85,897 | ​ | $ | — | ​ | $ | — | ​ | $ | 85,897
Marketable securities, available for sale: |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Asset-backed securities |  | Level 2 | ​ |  | 10,228 | ​ |  | 12 | ​ |  | (2) | ​ |  | 10,238
Corporate debt securities |  | Level 2 | ​ |  | 82,514 | ​ |  | 66 | ​ |  | (113) | ​ |  | 82,467
Commercial paper | ​ | Level 2 | ​ | ​ | 19,457 | ​ | ​ | 13 | ​ | ​ | (8) | ​ | ​ | 19,462
U.S. government treasury and agency securities | ​ | Level 2 | ​ | ​ | 116,579 | ​ | ​ | 151 | ​ | ​ | (26) | ​ | ​ | 116,704
Supranational and sovereign government securities |  | Level 2 | ​ |  | 3,419 | ​ |  | 6 | ​ |  | — | ​ |  | 3,425
Total financial assets |  |  | ​ | $ | 318,094 | ​ | $ | 248 | ​ | $ | (149) | ​ | $ | 318,193

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