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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table identifies the Company’s assets that were measured at fair value on a recurring basis (in thousands):

 

June 30, 2023

Level

 

 

Amortized Cost

 

 

Gross unrealized gains

 

 

Gross unrealized losses

 

 

Estimated Fair Value

 

Cash and cash equivalents - Money market mutual funds

 

1

 

 

$

117,985

 

 

$

 

 

$

 

 

$

117,985

 

Short-term investments - U.S. Treasury securities

 

2

 

 

 

133,371

 

 

 

1

 

 

 

(181

)

 

 

133,191

 

Total

 

 

 

$

251,356

 

 

$

1

 

 

$

(181

)

 

$

251,176

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents - Money market mutual funds

 

1

 

 

$

209,273

 

 

$

 

 

$

 

 

$

209,273

 

Short-term investments - U.S. Treasury securities

 

2

 

 

 

63,456

 

 

 

407

 

 

 

 

 

 

63,863

 

Total

 

 

 

$

272,729

 

 

$

407

 

 

$

 

 

$

273,136