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Fair Value Measurements | 3 Months Ended
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Mar. 31, 2023
Fair Value Disclosures [Abstract] |
Fair Value Measurements | 4. Fair Value Measurements The following tables present information about the Company’s financial assets measured at fair value on a recurring basis:
|  | Fair Market Value Measurements as of March 31, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (in thousands) |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 12,337 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,337 |
U.S. Treasury bills |  |  | — |  |  |  | 14,362 |  |  |  | — |  |  |  | 14,362 |
Marketable debt securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury bills |  |  | — |  |  |  | 143,015 |  |  |  | — |  |  |  | 143,015 |
U.S. government agency bonds |  |  | — |  |  |  | 133,372 |  |  |  | — |  |  |  | 133,372 |
Total assets |  | $ | 12,337 |  |  | $ | 290,749 |  |  | $ | — |  |  | $ | 303,086 |
|  | Fair Market Value Measurements as of December 31, 2022 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (in thousands) |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 7,577 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,577 |
U.S. Treasury bills |  |  | — |  |  |  | 16,030 |  |  |  | — |  |  |  | 16,030 |
Marketable debt securities |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury bills |  |  | — |  |  |  | 199,245 |  |  |  | — |  |  |  | 199,245 |
U.S. government agency bonds |  |  | — |  |  |  | 106,920 |  |  |  | — |  |  |  | 106,920 |
Total assets |  | $ | 7,577 |  |  | $ | 322,195 |  |  | $ | — |  |  | $ | 329,772 |
There were no transfers between fair value levels during the three months ended March 31, 2023.

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- References No definition available. + Details
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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI https://asc.fasb.org/topic&trid=2155941 + Details
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