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FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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Jun. 30, 2022
Fair Value Disclosures [Abstract] |
Schedule of cash equivalents, restricted cash and marketable securities by security type | Cash equivalents, restricted cash and marketable securities by security type at June 30, 2022 were as follows:
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
Included in cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 24,789 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,789 |
Commercial paper |  |  | 44,243 |  |  |  | — |  |  |  | (10 | ) |  |  | 44,233 |
|  | $ | 69,032 |  |  | $ | — |  |  | $ | (10 | ) |  | $ | 69,022 |
Restricted cash: |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 93 |  |  | $ | — |  |  | $ | — |  |  | $ | 93 |
Certificate of deposit |  |  | 271 |  |  |  | — |  |  |  | — |  |  |  | 271 |
|  | $ | 364 |  |  | $ | — |  |  | $ | — |  |  | $ | 364 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities (due in less than one year) |  | $ | 31,019 |  |  | $ | — |  |  | $ | (207 | ) |  | $ | 30,812 |
Municipal securities (due in less than one year) |  |  | 3,000 |  |  |  | — |  |  |  | (57 | ) |  |  | 2,943 |
Government-sponsored enterprise securities (due in less than one year) |  |  | 5,000 |  |  |  | — |  |  |  | (47 | ) |  |  | 4,953 |
Commercial paper (due in less than one year) |  |  | 67,034 |  |  |  | 7 |  |  |  | (204 | ) |  |  | 66,837 |
Corporate notes (due in less than one year) |  |  | 37,961 |  |  |  | — |  |  |  | (276 | ) |  |  | 37,685 |
|  | $ | 144,014 |  |  | $ | 7 |  |  | $ | (791 | ) |  | $ | 143,230 |
Cash equivalents, restricted cash and marketable securities by security type at December 31, 2021 were as follows:
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
Included in cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 24,207 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,207 |
Commercial paper |  |  | 7,499 |  |  |  | — |  |  |  | — |  |  |  | 7,499 |
|  | $ | 31,706 |  |  | $ | — |  |  | $ | — |  |  | $ | 31,706 |
Restricted cash: |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 93 |  |  | $ | — |  |  | $ | — |  |  | $ | 93 |
Certificate of deposit |  |  | 271 |  |  |  | — |  |  |  | — |  |  |  | 271 |
|  | $ | 364 |  |  | $ | — |  |  | $ | — |  |  | $ | 364 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities (due in less than one year) |  | $ | 15,585 |  |  | $ | — |  |  | $ | (18 | ) |  | $ | 15,567 |
U.S. Treasury securities (due in one to two years) |  |  | 1,524 |  |  |  | — |  |  |  | (3 | ) |  |  | 1,521 |
Municipal securities (due in one to two years) |  |  | 3,000 |  |  |  | — |  |  |  | (15 | ) |  |  | 2,985 |
Government-sponsored enterprise securities (due in less than one year) |  |  | 12,500 |  |  |  | — |  |  |  | (7 | ) |  |  | 12,493 |
Commercial paper (due in less than one year) |  |  | 84,398 |  |  |  | 2 |  |  |  | (38 | ) |  |  | 84,362 |
Corporate notes (due in less than one year) |  |  | 36,444 |  |  |  | 2 |  |  |  | (17 | ) |  |  | 36,429 |
Corporate notes (due in one to two years) |  |  | 24,224 |  |  |  | — |  |  |  | (79 | ) |  |  | 24,145 |
|  | $ | 177,675 |  |  | $ | 4 |  |  | $ | (177 | ) |  | $ | 177,502 |
Schedule of cash equivalents and marketable securities with unrealized losses | Cash equivalents and marketable securities with unrealized losses that have been in a continuous unrealized loss position for less than 12 months and 12 months or longer at June 30, 2022 and December 31, 2021 were as follows:
|  | Less Than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  |  |  |  | Gross |  |  |  |  |  | Gross |  |  |  |  |  | Gross |
|  | Estimated |  |  | Unrealized |  |  | Estimated |  |  | Unrealized |  |  | Estimated |  |  | Unrealized |
(In thousands) |  | Fair Value |  |  | Losses |  |  | Fair Value |  |  | Losses |  |  | Fair Value |  |  | Losses |
As of June 30, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities (due in less than one year) |  | $ | 30,812 |  |  | $ | (207 | ) |  | $ | — |  |  | $ | — |  |  | $ | 30,812 |  |  | $ | (207 | )
Municipal securities (due in less than one year) |  |  | 2,943 |  |  |  | (57 | ) |  |  | — |  |  |  | — |  |  |  | 2,943 |  |  |  | (57 | )
Government-sponsored enterprise securities (due in less than one year) |  |  | — |  |  |  | — |  |  |  | 4,953 |  |  |  | (47 | ) |  |  | 4,953 |  |  |  | (47 | )
Commercial paper (due in less than one year) |  |  | 94,341 |  |  |  | (214 | ) |  |  | — |  |  |  | — |  |  |  | 94,341 |  |  |  | (214 | )
Corporate notes (due in less than one year) |  |  | 24,249 |  |  |  | (102 | ) |  |  | 13,437 |  |  |  | (174 | ) |  |  | 37,686 |  |  |  | (276 | )
|  | $ | 152,345 |  |  | $ | (580 | ) |  | $ | 18,390 |  |  | $ | (221 | ) |  | $ | 170,735 |  |  | $ | (801 | )
As of December 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities (due in less than one year) |  | $ | 15,567 |  |  | $ | (18 | ) |  | $ | — |  |  | $ | — |  |  | $ | 15,567 |  |  | $ | (18 | )
U.S. Treasury securities (due in one to two years) |  |  | 1,521 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | 1,521 |  |  |  | (3 | )
Municipal securities (due in one to two years) |  |  | 2,985 |  |  |  | (15 | ) |  |  | — |  |  |  | — |  |  |  | 2,985 |  |  |  | (15 | )
Government-sponsored enterprise securities (due in less than one year) |  |  | 1,500 |  |  |  | — |  |  |  | 4,993 |  |  |  | (7 | ) |  |  | 6,493 |  |  |  | (7 | )
Commercial paper (due in less than one year) |  |  | 66,872 |  |  |  | (38 | ) |  |  | — |  |  |  | — |  |  |  | 66,872 |  |  |  | (38 | )
Corporate notes (due in less than one year) |  |  | 16,001 |  |  |  | (17 | ) |  |  | — |  |  |  | — |  |  |  | 16,001 |  |  |  | (17 | )
Corporate notes (due in one to two years) |  |  | 24,145 |  |  |  | (79 | ) |  |  | — |  |  |  | — |  |  |  | 24,145 |  |  |  | (79 | )
|  | $ | 128,591 |  |  | $ | (170 | ) |  | $ | 4,993 |  |  | $ | (7 | ) |  | $ | 133,584 |  |  | $ | (177 | )
Schedule of financial instruments measured at fair value on recurring basis | The following table presents information about our financial instruments that are measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 and indicates the fair value category assigned.
|  | Fair Value Measurements at Reporting Date Using |
|  | Quoted Prices in |  |  |  |  |  | Significant |  |  |  |
|  | Active Markets for |  |  | Significant Other |  |  | Unobservable |  |  |  |
|  | Identical Assets |  |  | Observable Inputs |  |  | Inputs |  |  |  |
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
As of June 30, 2022: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds(1) |  | $ | 24,789 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,789 |
U.S. Treasury securities(2) |  |  | — |  |  |  | 30,812 |  |  |  | — |  |  |  | 30,812 |
Municipal securities(2) |  |  | — |  |  |  | 2,943 |  |  |  | — |  |  |  | 2,943 |
Government-sponsored enterprise securities(2) |  |  | — |  |  |  | 4,953 |  |  |  | — |  |  |  | 4,953 |
Commercial paper(1)(2) |  |  | — |  |  |  | 111,070 |  |  |  | — |  |  |  | 111,070 |
Corporate notes(2) |  |  | — |  |  |  | 37,685 |  |  |  | — |  |  |  | 37,685 |
Total |  | $ | 24,789 |  |  | $ | 187,463 |  |  | $ | — |  |  | $ | 212,252 |
As of December 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds(1) |  | $ | 24,207 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,207 |
U.S. Treasury securities(2)(3) |  |  | — |  |  |  | 17,088 |  |  |  | — |  |  |  | 17,088 |
Municipal securities(3) |  |  | — |  |  |  | 2,985 |  |  |  | — |  |  |  | 2,985 |
Government-sponsored enterprise securities(2) |  |  | — |  |  |  | 12,493 |  |  |  | — |  |  |  | 12,493 |
Commercial paper(1)(2) |  |  | — |  |  |  | 91,861 |  |  |  | — |  |  |  | 91,861 |
Corporate notes(2)(3) |  |  | — |  |  |  | 60,574 |  |  |  | — |  |  |  | 60,574 |
Total |  | $ | 24,207 |  |  | $ | 185,001 |  |  | $ | — |  |  | $ | 209,208 |
(1) Included in cash and cash equivalents on our condensed consolidated balance sheets. (2) Included in current portion of marketable securities on our condensed consolidated balance sheets. (3) Included in noncurrent portion of marketable securities on our condensed consolidated balance sheets.

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