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Fair Value Measurements and Investments (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Investments Subject to Fair Value Measurements on a Recurring Basis

The following tables set forth the fair value of the Company’s investments subject to fair value measurements on a recurring basis and the level of inputs used in such measurements:

 

 

 

 

 

December 31, 2022

 

 

 

Valuation
Hierarchy

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Aggregate
Fair Value

 

 

 

 

 

(in thousands)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

Level I

 

$

64,706

 

 

$

 

 

$

 

 

$

64,706

 

Restricted cash (money market funds)

 

Level I

 

 

917

 

 

 

 

 

 

 

 

 

917

 

U.S. Treasury securities

 

Level I

 

 

29,941

 

 

 

10

 

 

 

 

 

 

29,951

 

Total

 

 

 

$

95,564

 

 

$

10

 

 

$

 

 

$

95,574

 

 

 

 

 

 

 

December 31, 2021

 

 

 

Valuation
Hierarchy

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Aggregate
Fair Value

 

 

 

 

 

(in thousands)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

Level I

 

$

165,736

 

 

$

 

 

$

 

 

$

165,736

 

Restricted cash (money market funds)

 

Level I

 

 

917

 

 

 

 

 

 

 

 

 

917

 

U.S. Treasury securities

 

Level I

 

 

99,938

 

 

 

 

 

 

(242

)

 

 

99,696

 

Total

 

 

 

$

266,591

 

 

$

 

 

$

(242

)

 

$

266,349