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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables provide information by level for the Company’s assets and liabilities that were measured at fair value on a recurring basis (in thousands):
| June 30, 2024
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 18,364 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,364 |
Short-term investments: |  |  |  |  |  |  |
Commercial paper | — |  |  | $ | 72,690 |  |  | — |  |  | 72,690 |
Corporate debt and U.S. government agency securities | — |  |  | $ | 58,867 |  |  | — |  |  | 58,867 |
Total short-term investments | — |  |  | 131,557 |  |  | — |  |  | 131,557 |
Total financial assets | $ | 18,364 |  |  | $ | 131,557 |  |  | $ | — |  |  | $ | 149,921 |
Liabilities |  |  |  |  |  |  |
Warrant liabilities | $ | — |  |  | $ | — |  |  | $ | 256 |  |  | $ | 256 |
Total financial liabilities | $ | — |  |  | $ | — |  |  | $ | 256 |  |  | $ | 256 |
| December 31, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 7,354 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,354 |
Commercial paper | — |  |  | 2,989 |  |  | — |  |  | 2,989 |
Short-term investments: |  |  |  |  |  |  |
Commercial paper | — |  |  | 80,620 |  |  | — |  | ` | 80,620 |
Corporate debt and U.S. government agency securities | — |  |  | 58,538 |  |  |  |  | 58,538 |
Total short-term investments | $ | — |  |  | $ | 139,158 |  |  | $ | — |  |  | $ | 139,158 |
Total financial assets | $ | 7,354 |  |  | $ | 142,147 |  |  | $ | — |  |  | $ | 149,501 |
Liabilities |  |  |  |  |  |  |
Warrant liabilities | $ | — |  |  | $ | — |  |  | $ | 229 |  |  | $ | 229 |
Total financial liabilities | $ | — |  |  | $ | — |  |  | $ | 229 |  |  | $ | 229 |
Schedule of Changes in Fair Value of Level 3 Financial Instruments | The following table presents a summary of the changes in the fair value of the Company’s Level 3 financial instruments (in thousands):
| Private Placement Warrant Liability
Fair value as of December 31, 2023 | $ | 229 |
Change in the fair value included in other income, net | 27 |
Fair value as of June 30, 2024 | $ | 256 |
Fair value as of December 31, 2022 | $ | 180 |
Change in the fair value included in other income, net | (126) |
Fair value as of June 30, 2023 | $ | 54 |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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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