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Fair Value of Financial Assets and Liabilities (Tables)
3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis and Indicate Level of Fair Value Hierarchy Utilized

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