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Fair Value Measurements
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Various inputs are used in determining the fair value of the Company’s financial assets and liabilities. These inputs are summarized into the following three broad categories:
Level 1 – quoted prices in active markets for identical securities
Level 2 – other significant observable inputs, including quoted prices for similar securities, interest rates, credit risk, etc.
Level 3 – significant unobservable inputs, including the Company’s own assumptions in determining fair value
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Marketable securities, which consist primarily of corporate and U.S. government agency bonds, are classified as available for sale and fair value did not differ significantly from carrying value as of September 30, 2024 and December 31, 2023. The following table presents information about the Company’s assets measured at fair value as of September 30, 2024:
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents and restricted cash$170,176 $— $— $170,176 
Marketable securities— 228,263 — 228,263 
Equity investments58,588 — — 58,588 
Total$228,764 $228,263 $— $457,027 
The following table presents information about the Company’s assets measured at fair value as of December 31, 2023:
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents and restricted cash$161,066 $— $— $161,066 
Marketable securities— 307,688 — 307,688 
Equity investments79,623 — — 79,623 
Total$240,689 $307,688 $— $548,377 
Unrealized gains and losses arising from changes in fair value of the Company’s equity investments are classified within change in fair value in the condensed consolidated statements of operations. Realized gains arising from
distributions receivable from the Company's equity investments are classified within gain on equity investments in the condensed consolidated statements of operations.
For further information regarding the Company’s equity investments, see Note 10, Equity Investments.