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Investments and Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Cash, Cash Equivalents, and Marketable Securities
The Company's total cash, cash equivalents and marketable securities consisted of the following:
As of September 30,As of December 31,
20232022
(in thousands)
Cash and cash equivalents:
Cash$29,010 $46,516 
Money market funds216,378 96,875 
U.S. Treasury securities$24,912 $— 
Total cash and cash equivalents(1)
$270,300 $143,391 
Marketable securities:
U.S. Treasury securities$73,755 $287,988 
Corporate notes and bonds84,300 71,744 
Asset-backed securities— 175 
Municipal securities— 2,221 
Foreign government and supranational securities— 12,453 
Total marketable securities, current(2)
$158,055 $374,581 
Corporate notes and bonds31,321 140,949 
Asset-backed securities959 24,156 
Total marketable securities, non-current(3)
$32,280 $165,105 
Total marketable securities$190,335 $539,686 
Total cash, cash equivalents and marketable securities$460,635 $683,077 
(1) The Company’s cash equivalents include investments with an original maturity date of three months or less.
(2) The Company classifies its marketable securities as current, where it intends to hold the securities for less than 12 months.
(3) The Company classifies its marketable securities are non-current, where it intends to hold the securities for longer than 12 months.
Schedule of Available-For-Sale Investments
The following table summarizes adjusted cost, gross unrealized gains and losses, and fair value related to available-for-sale securities classified as marketable securities on the accompanying condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022:
As of September 30, 2023
Amortized
Cost		Gross
Unrealized
Gain		Gross
Unrealized
Loss		Fair
Value
(in thousands)
U.S. Treasury securities$73,753 $2 $— $73,755 
Corporate notes and bonds117,470 — (1,849)115,621 
Asset-backed securities961 — (2)959 
Municipal securities— — — — 
Total available-for-sale investments$192,184 $2 $(1,851)$190,335 
As of December 31, 2022
Amortized
Cost		Gross
Unrealized
Gain		Gross
Unrealized
Loss		Fair
Value
(in thousands)
U.S. Treasury securities$291,685 $— $(3,697)$287,988 
Corporate notes and bonds217,187 — (4,494)212,693 
Asset-backed securities24,617 — (286)24,331 
Municipal securities2,322 — (101)2,221 
Foreign government and supranational securities12,522 — (69)12,453 
Total available-for-sale investments$548,333 $— $(8,647)$539,686 
Schedule of Financial Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis
Financial assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of instruments:
As of September 30, 2023
Level 1Level 2Level 3Total
(in thousands)
Cash equivalents:
Money market funds$216,378 $— $— $216,378 
U.S. Treasury securities$— $24,912 $— $24,912 
Total cash equivalents216,378 24,912 — 241,290 
Marketable securities:
Corporate notes and bonds— 115,621 — 115,621 
U.S. Treasury securities— 73,755 — 73,755 
Municipal securities— — — — 
Asset-backed securities— 959 — 959 
Foreign government and supranational securities— — — — 
Total marketable securities— 190,335 — 190,335 
Restricted cash:
Restricted cash, current150 — — 150 
Total restricted cash150 — — 150 
Total financial assets$216,528 $215,247 $— $431,775 
As of December 31, 2022
Level 1Level 2Level 3Total
(in thousands)
Cash equivalents:
Money market funds$96,875 $— $— $96,875 
Total cash equivalents96,875 — — 96,875 
Marketable securities:
U.S. Treasury securities— 287,988 — 287,988 
Corporate notes and bonds— 212,693 — 212,693 
Asset-backed securities— 24,331 — 24,331 
Municipal securities— 2,221 — 2,221 
Foreign government and supranational securities— 12,453 — 12,453 
Total marketable securities— 539,686 — 539,686 
Restricted cash:
Restricted cash, current150 — — 150 
Total restricted cash150 — — 150 
Total financial assets$97,025 $539,686 $— $636,711