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FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2024
Investments, All Other Investments [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table sets forth the fair value of our financial assets and liabilities that were measured on a recurring basis:
September 30, 2024December 31, 2023
(in thousands)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Cash and cash equivalents $58,703 $19,279 $— $77,982 $70,172 $109,739 $— $179,911 
Investments:
Commercial paper — — — — — 9,947 — 9,947 
Corporate debt securities — 68,178 — 68,178 — 88,579 — 88,579 
U.S. government & agency securities— 324,987 — 324,987 — 352,979 — 352,979 
Total investments — 393,165 — 393,165 — 451,505 — 451,505 
Short-term restricted cash690 — — 690 300 — — 300 
Long-term restricted cash1,532 — — 1,532 2,422 — — 2,422 
Total assets measured at fair value $60,925 $412,444 $— $473,369 $72,894 $561,244 $— $634,138 
Liabilities
Contingent consideration$— $— $20,650 $20,650 $— $— $19,550 $19,550 
Total liabilities measured at fair value $— $— $20,650 $20,650 $— $— $19,550 $19,550 
Schedule of Changes in the Estimated Fair Value of Contingent Consideration Liability
Changes in the estimated fair value of the contingent consideration liability for the nine months ended September 30, 2024 were as follows:
(in thousands)Level 3
Beginning balance as of December 31, 2023$19,550 
Change in estimated fair value1,100 
Ending balance as of September 30, 2024$20,650 
Schedule of Cash, Cash Equivalents and Investments
The following tables summarize our cash, cash equivalents, restricted cash, and investments:
As of September 30, 2024
(in thousands)Amortized
Cost 		Gross
unrealized
gains		Gross
unrealized
losses		Fair
Value
Cash and cash equivalents$77,980 $2 $— $77,982 
Investments:
Corporate debt securities 67,563 620 (5)68,178 
U.S. government & agency securities324,052 962 (27)324,987 
Total investments 391,615 1,582 (32)393,165 
Total cash, cash equivalents and investments $469,595 $1,584 $(32)$471,147 
Short-term restricted cash$690 $— $— $690 
Long-term restricted cash$1,532 $— $— $1,532 
As of December 31, 2023
(in thousands)Amortized
Cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
Value
Cash and cash equivalents$179,958 $13 $(60)$179,911 
Investments:
Commercial paper9,947 — — 9,947 
Corporate debt securities88,263 373 (57)88,579 
U.S. government & agency securities353,029 478 (528)352,979 
Total investments451,239 851 (585)451,505 
Total cash, cash equivalents and investments$631,197 $864 $(645)$631,416 
Short-term restricted cash$300 $— $— $300 
Long-term restricted cash$2,422 $— $— $2,422 
The following table summarizes the contractual maturities of our cash equivalents and available-for-sale investments, excluding money market funds, as of September 30, 2024:
(in thousands)Fair Value
Due in one year or less $321,789 
Due after one year through five years 90,655 
Total$412,444