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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

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

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

		December 31, 2022
		Fair Value Hierarchy		Amortized Cost				Unrealized Gains				Unrealized Losses				Fair Market Value
		(In thousands)
Money market funds		Level 1		$	74,848			$	—			$	—			$	74,848
U.S. government treasury securities		Level 1			506,372				7				(4,569	)			501,810
Commercial paper		Level 2			44,438				2				(8	)			44,432
Corporate bonds		Level 2			29,352				4				(10	)			29,346
Total cash equivalents and marketable    securities				$	655,010			$	13			$	(4,587	)		$	650,436

		December 31, 2021
		Fair Value Hierarchy		Amortized Cost				Unrealized Gains				Unrealized Losses				Fair Market Value
		(In thousands)
Money market funds		Level 1		$	218,451			$	—			$	—			$	218,451
U.S. government treasury securities		Level 1			407,041				8				(950	)			406,099
Total cash equivalents and marketable    securities				$	625,492			$	8			$	(950	)		$	624,550

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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