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Investments and Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 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 December 31,
20232022
(in thousands)
Cash and cash equivalents:
Cash$21,269 $46,516 
U.S. Treasury securities52,830 — 
Money market funds21,166 96,875 
Commercial paper12,656 — 
Total cash and cash equivalents
107,921 143,391 
Marketable securities:
U.S. Treasury securities$73,448 $287,988 
Corporate notes and bonds105,566 $71,744 
Commercial paper25,934 — 
Agency bonds
9,851 — 
Asset-backed securities— 175 
Municipal securities— 2,221 
Foreign government and supranational securities— 12,453 
Total marketable securities, current $214,799 $374,581 
Corporate notes and bonds5,999 140,949 
Asset-backed securities89 24,156 
Total marketable securities, non-current $6,088 $165,105 
Total marketable securities$220,887 $539,686 
Total cash, cash equivalents and marketable securities$328,808 $683,077 
Schedule of Available-For-Sale Investments
The following table summarizes adjusted cost, gross unrealized gains and losses, and fair value related to cash and cash equivalents and available-for-sale securities on the accompanying consolidated balance sheets as of December 31, 2023 and December 31, 2022:
As of December 31, 2023
Amortized
Cost		Gross
Unrealized
Gain		Gross
Unrealized
Loss		Fair
Value
(in thousands)
Cash and cash equivalents:
U.S. Treasury securities$52,824 $6 $— $52,830 
Commercial paper$12,663 $— $(7)$12,656 
Marketable securities:
U.S. Treasury securities$73,444 $8 $(4)$73,448 
Corporate notes and bonds112,487 9 (931)111,565 
Commercial paper25,946 — (12)25,934 
Asset-backed securities89 — — 89 
Agency bonds
9,854 — (3)9,851 
Total available-for-sale investments$287,307 $23 $(957)$286,373 
As of December 31, 2022
Amortized
Cost		Gross Unrealized GainGross
Unrealized Loss		Fair
Value
(in thousands)
Marketable securities:
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 December 31, 2023
Level 1Level 2Level 3Total
(in thousands)
Cash equivalents:
Money market funds$21,166 $— $— $21,166 
U.S. Treasury securities— 52,830 — 52,830 
Commercial paper— 12,656 — 12,656 
Total cash equivalents21,166 65,486 — 86,652 
Marketable securities:
U.S. Treasury securities— 73,448 — 73,448 
Corporate notes and bonds— 111,565 — 111,565 
Commercial paper
— 25,934 — 25,934 
Asset-backed securities— 89 — 89 
Agency bonds
— 9,851 — 9,851 
Total marketable securities— 220,887 — 220,887 
Restricted cash:
Restricted cash, current150 — — 150 
Total restricted cash150 — — 150 
Total financial assets$21,316 $286,373 $— $307,689 
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, current
150 — — 150 
Total restricted cash150 — — 150 
Total financial assets$97,025 $539,686 $— $636,711