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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Schedule of financial assets and liabilities measured at fair value on a recurring basis

​

​	​	​	​	​	​	​	​	​	​	​	​
(in thousands)	Level 1			Level 2			Level 3			Total
June 30, 2023	​	​	​	​	​	​	​	​	​	​	​
Current Assets	​	​	​	​	​	​	​	​	​	​	​
Cash equivalents in money market funds (Note 4)	$	41,776	​	$	—	​	$	—	​	$	41,776
U.S. treasury securities(1)	​	304,591	​	​	—	​	​	—	​	​	304,591
Equity securities(2)	​	551	​	​	—	​	​	—	​	​	551
Total current assets at fair value	$	346,918	​	$	—	​	$	—	​	$	346,918
​	​	​	​	​	​	​	​	​	​	​	​
Non-current Assets	​	​	​	​	​	​	​	​	​	​	​
U.S. treasury securities(1)	$	—	​	$	—	​	$	—	​	$	—
Restricted cash in money market funds	​	614	​	​	—	​	​	—	​	​	614
Total non-current assets at fair value	$	614	​	$	—	​	$	—	​	$	614
Total Assets at fair value	$	347,532	​	$	—	​	$	—	​	$	347,532
​	​	​	​	​	​	​	​	​	​	​	​
Liabilities	​	​	​	​	​	​	​	​	​	​	​
Sponsor Earn-Out Liability(3)	$	—	​	$	—	​	$	7,466	​	$	7,466
Total liabilities at fair value	$	—	​	$	—	​	$	7,466	​	$	7,466
​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2022	​	​	​	​	​	​	​	​	​	​	​
Current Assets	​	​	​	​	​	​	​	​	​	​	​
Cash equivalents in money market funds (Note 4)	$	46,308	​	$	—	​	$	—	​	$	46,308
U.S. treasury securities(1)	​	283,460	​	​	—	​	​	—	​	​	283,460
Total current assets at fair value	$	329,768	​	$	—	​	$	—	​	$	329,768
​	​	​	​	​	​	​	​	​	​	​	​
Non-current Assets	​	​	​	​	​	​	​	​	​	​	​
Restricted cash in money market funds	$	614	​	$	—	​	$	—	​	$	614
Total non-current assets at fair value	$	614	​	$	—	​	$	—	​	$	614
Total Assets at fair value	$	330,382	​	$	—	​	$	—	​	$	330,382
​	​	​	​	​	​	​	​	​	​	​	​
Liabilities	​	​	​	​	​	​	​	​	​	​	​
Sponsor Earn-Out Liability(3)	$	—	​	$	—	​	$	10,961	​	$	10,961
Total liabilities at fair value	$	—	​	$	—	​	$	10,961	​	$	10,961

⁽¹⁾ Fair value was determined using market prices obtained from third-party sources, see “Note 5 – Investments” for more details.

⁽²⁾ Fair value was determined using publicly quoted market prices obtained from third-party sources in their respective markets.

⁽³⁾ See “Note 8 – Sponsor Earn-Out Liability” for details about inputs used in the fair value measurements of the Sponsor Earn-Out Liability.

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- References

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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