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Fair Value of Financial Assets and Liabilities | 3 Months Ended
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Mar. 31, 2023
Fair Value Disclosures [Abstract] |
Fair Value of Financial Assets and Liabilities | 5. Fair Value of Financial Assets and Liabilities The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values:
|  | Fair Value Measurements as of March 31, 2023 Using: |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | — |  |  | $ | 110,937 |  |  | $ | — |  |  | $ | 110,937 |
Available-for-sale securities |  |  | — |  |  |  | 20,860 |  |  |  | — |  |  |  | 20,860 |
|  | $ | — |  |  | $ | 131,797 |  |  | $ | — |  |  | $ | 131,797 |
|  | Fair Value Measurements as of December 31, 2022 Using: |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | — |  |  | $ | 69,374 |  |  | $ | — |  |  | $ | 69,374 |
Available-for-sale securities |  |  | — |  |  |  | 58,338 |  |  |  | — |  |  |  | 58,338 |
|  | $ | — |  |  | $ | 127,712 |  |  | $ | — |  |  | $ | 127,712 |
As of March 31, 2023 and December 31, 2022, the fair values of the Company’s cash equivalents and available-for-sale securities were determined using Level 2 inputs. During the three months ended March 31, 2023 and the year ended December 31, 2022, there were no transfers between Level 1, Level 2 and Level 3. The fair value of the Company’s cash, restricted cash, accounts payable, and accrued expenses and other current liabilities approximate their carrying value due to their short-term maturities.

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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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