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Fair Value Measurements | 12 Months Ended
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Dec. 31, 2021
Fair Value Measurements [Abstract] |
Fair Value Measurements | Fair Value Measurements The Company uses various inputs in determining the fair value of its investments and measures these assets on a recurring basis. Assets and liabilities recorded at fair value in the consolidated balance sheets are categorized by the level of objectivity associated with the inputs used to measure their fair value. The following levels are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities: •Level 1 – quoted prices in active markets for identical assets, which include U.S. treasury securities •Level 2 – other significant observable inputs (including quoted prices for similar investments, market corroborated inputs, etc.), which include corporate debt securities •Level 3 – significant unobservable inputs The inputs or methodology used for valuing securities are not necessarily an indication of the credit risk associated with investing in those securities. The following tables provide the fair value measurements of applicable Company assets and liabilities that are measured at fair value on a recurring basis according to the fair value levels defined above as of December 31, 2021 and 2020.
| Assets and Liabilities at Fair Value
| As of December 31, 2021
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (in thousands)
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 64,065 |  |  | $ | — |  |  | $ | — |  |  | $ | 64,065 |
Short-term investments | 7,561 |  |  | 15,117 |  |  | — |  |  | 22,678 |
Total cash and cash equivalents and investments | $ | 71,626 |  |  | $ | 15,117 |  |  | $ | — |  |  | $ | 86,743 |
| Assets and Liabilities at Fair Value
| As of December 31, 2020
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (in thousands)
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 126,263 |  |  | $ | — |  |  | $ | — |  |  | $ | 126,263 |
Short-term investments | — |  |  | 26,012 |  |  | — |  |  | 26,012 |
Total cash and cash equivalents and investments | $ | 126,263 |  |  | $ | 26,012 |  |  | $ | — |  |  | $ | 152,275 |
The Company did not have any Level 3 assets or liabilities at December 31, 2021 or 2020. Transfers between levels are recognized at the actual date of circumstance that caused the transfer. There were no transfers between Level 1 and Level 2 during the periods presented.

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- Definition Fair Value Measurements [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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