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Fair Value Measurements and Cash Equivalents/Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Summary of Cash Equivalents and Marketable Securities

The following tables summarize the Company’s cash equivalents and marketable securities as of December 31, 2023 and 2022:

		Total				Quoted Prices in Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(in thousands)
December 31, 2023
Cash equivalents:
Money market funds invested in government securities		$	24,701			$	24,701			$	—			$	—
Total cash equivalents			24,701				24,701				—				—
Marketable securities:
U.S. Treasury Bills			17,334				17,334				—				—
U.S. Government securities			35,719				—				35,719				—
Corporate bonds			6,988				—				6,988				—
Total marketable securities			60,041				17,334				42,707				—
Total cash equivalents and marketable securities		$	84,742			$	42,035			$	42,707			$	—
December 31, 2022
Cash equivalents:
Money market funds invested in government securities		$	22,184			$	22,184			$	—			$	—
Total cash equivalents			22,184				22,184				—				—
Marketable securities:
U.S. Government securities			91,603				—				91,603				—
Total marketable securities			91,603				—				91,603				—
Total cash equivalents and marketable securities		$	113,787			$	22,184			$	91,603			$	—

Summary of Marketable Securities

The following tables summarize the Company’s marketable securities as of December 31, 2023 and 2022:

		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(in thousands)
December 31, 2023
Assets:
U.S. Treasury Bills			17,330				4				—				17,334
U.S. Government securities (due within 1 year)			35,653				66				—				35,719
Commercial paper (due within 1 year)			6,977				11				—				6,988
Total marketable securities		$	59,960			$	81			$	—			$	60,041
December 31, 2022
Assets:
U.S. Government securities (due within 1 year)			91,634				12				(43	)			91,603
		$	91,634			$	12			$	(43	)		$	91,603

X

- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ 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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- References

No definition available.

+ Details

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X

- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

No definition available.

+ Details

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