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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

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

The following tables show the Company’s cash, cash equivalents, and short-term investments by significant investment category as of June 30, 2024 and December 31, 2023 (in thousands):

			June 30, 2024
			Amortized Cost						Unrealized Gains						Unrealized Losses						Fair Value						Cash and Cash Equivalents						Short-term Investments
Cash			$	6,195					$	—					$	—					$	6,195					$	6,195					$	—
Level 1:
Money market funds			12,400						—						—						12,400						12,400						—
Level 2(1):
Commercial paper			11,360						—						(6)						11,354						—						11,354
Corporate debt			3,934						—						(5)						3,929						—						3,929
U.S. treasury securities			39,333						—						(12)						39,321						—						39,321
Subtotal			54,627						—						(23)						54,604						—						54,604
Total			$	73,222					$	—					$	(23)					$	73,199					$	18,595					$	54,604

(1) The valuation techniques used to measure the fair values of the Company’s Level 2 financial instruments uses inputs that are either directly or indirectly observable for the asset through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life.

			December 31, 2023
			Amortized Cost						Unrealized Gains						Unrealized Losses						Fair Value						Cash and Cash Equivalents						Short-term Investments
Cash			$	8,742					$	—					$	—					$	8,742					$	8,742					$	—
Level 1:
Money market funds			56,374						—						—						56,374						56,374						—
Total			$	65,116					$	—					$	—					$	65,116					$	65,116					$	—

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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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