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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 were as follows (in thousands):
|  | Total |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 77,683 |  |  | $ | 77,683 |  |  | $ | — |  |  | $ | — |
U.S. treasury bills (due within 90 days) |  |  | 12,517 |  |  |  | — |  |  |  | 12,517 |  |  |  | — |
Marketable securities |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury bills |  |  | 57,987 |  |  |  | — |  |  |  | 57,987 |  |  |  | — |
U.S. government agency securities |  |  | 38,637 |  |  |  | — |  |  |  | 38,637 |  |  |  | — |
MS APA asset |  |  | 1,684 |  |  |  | — |  |  |  | — |  |  | $ | 1,684 |
Total financial assets |  | $ | 188,508 |  |  | $ | 77,683 |  |  | $ | 109,141 |  |  | $ | 1,684 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |
CVR liability |  | $ | 1,684 |  |  |  | — |  |  |  | — |  |  | $ | 1,684 |
Total financial liabilities |  | $ | 1,684 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,684 |
Assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 were as follows (in thousands):
|  | Total |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds, included in cash and cash equivalents |  | $ | 158,706 |  |  | $ | 158,706 |  |  | $ | — |  |  | $ | — |
MS APA asset |  |  | 1,448 |  |  |  | — |  |  |  | — |  |  |  | 1,448 |
Total financial assets |  | $ | 160,154 |  |  | $ | 158,706 |  |  | $ | — |  |  | $ | 1,448 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |
CVR liability |  | $ | 1,448 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,448 |
Total financial liabilities |  | $ | 1,448 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,448 |

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