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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023
		Fair Value Hierarchy		Amortized Cost				Unrealized Gains				Unrealized Losses				Fair Market Value
		(In thousands)
Money market funds		Level 1		$	67,101			$	—			$	—			$	67,101
U.S. government treasury securities		Level 1			178,232				86				(112	)			178,206
Certificates of deposit		Level 2			29,086				63				—				29,149
Commercial paper		Level 2			140,082				85				(34	)			140,133
Corporate bonds		Level 2			129,474				173				(78	)			129,569
Total cash equivalents and marketable    securities				$	543,975			$	407			$	(224	)		$	544,158
		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

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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-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

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X

- References

No definition available.

+ Details

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