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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value on a Recurring Basis

The following tables summarize the fair value of the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

				September 30, 2024
		Valuation Hierarchy		Amortized Cost				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds		Level 1		$	40,679			$	—			$	—			$	40,679
Government bonds		Level 2			28,906				—				—				28,906
Total cash equivalents					69,585				—				—				69,585
Short-term investments:
Government bonds		Level 2			260,421				158				(3	)			260,576
Total short-term investments					260,421				158				(3	)			260,576
				$	330,006			$	158			$	(3	)		$	330,161

				December 31, 2023
		Valuation Hierarchy		Amortized Cost				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds		Level 1		$	143,933			$	—			$	—			$	143,933
Government bonds		Level 2			72,689				—				—				72,689
Total cash equivalents					216,622				—				—				216,622
Short-term investments:
Government bonds		Level 2			34,596				10				—				34,606
Total short-term investments					34,596				10				—				34,606
				$	251,218			$	10			$	—			$	251,228

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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X

- References

No definition available.

+ Details

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