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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Subject to Fair Value Measurements on Recurring Basis and Level of Inputs Used in Such Measurements by Major Security Type

Financial assets subject to fair value measurements on a recurring basis and the level of inputs used in such measurements by major security type as of September 30, 2023 and as of December 31, 2022 are presented in the following tables: 

			September 30, 2023
			Level 1						Level 2						Level 3						Fair Value
			(In thousands)
Financial Assets:
Money market funds (1)			$	50,937					$	—					$	—					$	50,937
Corporate bonds			—						86,179						—						86,179
U.S. treasury securities			310,957						—						—						310,957
U.S. agency securities			—						41,266						—						41,266
Total financial assets			$	361,894					$	127,445					$	—					$	489,339

			December 31, 2022
			Level 1						Level 2						Level 3						Fair Value
			(In thousands)
Financial Assets:
Money market funds (1)			$	10,679					$	—					$	—					$	10,679
Commercial paper			—						4,954						—						4,954
Corporate bonds			—						153,256						—						153,256
U.S. treasury securities			318,022						—						—						318,022
U.S. agency securities			—						39,416						—						39,416
Total financial assets			$	328,701					$	197,626					$	—					$	526,327

(1)Included within cash and cash equivalents on the Company’s condensed consolidated balance sheets

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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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- References

No definition available.

+ Details

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