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Fair Value Measurements | 3 Months Ended
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Mar. 31, 2023
Fair Value Measurements [Abstract] |
Fair Value, Measurement Inputs, Disclosure | 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 condensed 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 investments, which include U.S. treasury securities •Level 2 - other significant observable inputs (including quoted prices for similar investments, market corroborated inputs, etc.), which includes 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 table provides the fair value measurements of applicable Company assets that are measured at fair value on a recurring basis according to the fair value levels defined above as of March 31, 2023 and December 31, 2022.
|  | Assets and Liabilities at Fair Value as of March 31, 2023
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in thousands)
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 26,001 |  |  | $ | — |  |  | $ | — |  |  | $ | 26,001 |
Short-term investments |  | 70,761 |  |  | 9,175 |  |  | — |  |  | 79,936 |
Total cash and cash equivalents and investments |  | $ | 96,762 |  |  | $ | 9,175 |  |  | $ | — |  |  | $ | 105,937 |
|  | Assets and Liabilities at Fair Value as of December 31, 2022
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in thousands)
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 46,345 |  |  | $ | — |  |  | $ | — |  |  | $ | 46,345 |
Short-term investments |  | 73,680 |  |  | 18,332 |  |  | — |  |  | 92,012 |
Total cash and cash equivalents and investments |  | $ | 120,025 |  |  | $ | 18,332 |  |  | $ | — |  |  | $ | 138,357 |
The Company did not have any Level 3 assets or liabilities as of March 31, 2023 or December 31, 2022. Transfers between levels are recognized at the actual date of the circumstance that caused the transfer. There were no transfers between Level 1 and Level 2 during the periods presented. Refer to Note 5, Debt Obligations, for fair value measurements of debt obligations.

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- Definition Fair Value Measurements [Abstract] + 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 -Topic 820 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//820/tableOfContent + Details
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