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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Measurements

Schedule of financial assets measured at fair value on a recurring basis

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values (in thousands):



		JUNE 30,												DECEMBER 31,
		2023												2022
		LEVEL 1			LEVEL 2			LEVEL 3			TOTAL			LEVEL 1			LEVEL 2			LEVEL 3			TOTAL
Money market funds		$	25,592		$	—		$	—		$	25,592		$	18,994		$	—		$	—		$	18,994
Commercial paper			—			9,975			—			9,975			—			—			—			—
Cash equivalents			25,592			9,975			—			35,567			18,994			—			—			18,994

U.S. government bonds			43,269			—			—			43,269			11,763			—			—			11,763
U.S. government agency bonds			—			33,846			—			33,846			—			1,794			—			1,794
Corporate debt securities			—			106,881			—			106,881			—			51,193			—			51,193
Short-term investments			43,269			140,727			—			183,996			11,763			52,987			—			64,750
Total fair value of financial assets		$	68,861		$	150,702		$	—		$	219,563		$	30,757		$	52,987		$	—		$	83,744



		JUNE 30,												DECEMBER 31,
		2023												2022
			AMORTIZED		GROSS UNREALIZED						FAIR				AMORTIZED		GROSS UNREALIZED						FAIR
		COST			LOSSES			GAINS			VALUE			COST			LOSSES			GAINS			VALUE
Money market funds		$	25,592		$	—		$	—		$	25,592		$	18,994		$	—		$	—		$	18,994
Commercial paper			9,970			—			5			9,975			—			—			—			—
Cash equivalents			35,562			—			5			35,567			18,994			—			—			18,994

U.S. government bonds			43,433			(164)			—			43,269			11,820			(57)			—			11,763
U.S. government agency bonds			33,914			(77)			9			33,846			1,801			(7)			—			1,794
Corporate debt securities			107,044			(166)			3			106,881			51,239			(49)			3			51,193
Short-term investments			184,391			(407)			12			183,996			64,860			(113)			3			64,750
Total fair value of financial assets		$	219,953		$	(407)		$	17		$	219,563		$	83,854		$	(113)		$	3		$	83,744