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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

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):



		MARCH 31,												DECEMBER 31,
		2024												2023
		LEVEL 1			LEVEL 2			LEVEL 3			TOTAL			LEVEL 1			LEVEL 2			LEVEL 3			TOTAL
Money market funds		$	88,625		$	—		$	—		$	88,625		$	124,443		$	—		$	—		$	124,443
Cash equivalents			88,625			—			—			88,625			124,443			—			—			124,443

U.S. government bonds			71,029			—			—			71,029			84,935			—			—			84,935
U.S. government agency bonds			—			78,587			—			78,587			—			82,340			—			82,340
Corporate debt securities			—			189,001			—			189,001			—			170,256			—			170,256
Short-term investments			71,029			267,588			—			338,617			84,935			252,596			—			337,531
Total fair value of financial assets		$	159,654		$	267,588		$	—		$	427,242		$	209,378		$	252,596		$	—		$	461,974



		MARCH 31,												DECEMBER 31,
		2024												2023
			AMORTIZED		GROSS UNREALIZED						FAIR				AMORTIZED		GROSS UNREALIZED						FAIR
		COST			LOSSES			GAINS			VALUE			COST			LOSSES			GAINS			VALUE
Money market funds		$	88,625		$	—		$	—		$	88,625		$	124,443		$	—		$	—		$	124,443
Cash equivalents			88,625			—			—			88,625			124,443			—			—			124,443

U.S. government bonds			71,055			(43)			17			71,029			84,783			(35)			187			84,935
U.S. government agency bonds			78,597			(30)			20			78,587			82,185			(16)			171			82,340
Corporate debt securities			189,055			(99)			45			189,001			170,042			(39)			253			170,256
Short-term investments			338,707			(172)			82			338,617			337,010			(90)			611			337,531
Total fair value of financial assets		$	427,332		$	(172)		$	82		$	427,242		$	461,453		$	(90)		$	611		$	461,974