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FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurements of Cash Equivalents and Marketable Securities

The fair value measurements of the Company’s cash equivalents and marketable securities are identified at the following levels within the fair value hierarchy (in thousands):

			June 30, 2023
			Fair Value Measurements
			Total						Level 1						Level 2						Level 3
Assets:
Cash equivalents:
Money market funds			$	8,168					$	8,168					$	—					$	—
Total			8,168						8,168						—						—
Marketable securities:
U.S. government-sponsored entity debt securities			32,296						—						32,296						—
Commercial paper securities			41,838						—						41,838						—
Asset-backed securities			10,505						—						10,505						—
U.S. treasury bills			5,573						—						5,573						—
Certificates of deposit			25,096						—						25,096						—
Total			115,308						—						115,308						—
Total cash equivalents and marketable securities			$	123,476					$	8,168					$	115,308					$	—

			December 31, 2022
			Fair Value Measurements
			Total						Level 1						Level 2						Level 3
Assets:
Cash equivalents:
Money market funds			$	50,820					$	50,820					$	—					$	—
Total			50,820						50,820						—						—
Marketable securities:
U.S. government-sponsored entity debt securities			18,417						—						18,417						—
Commercial paper securities			101,165						—						101,165						—
Corporate debt securities			11,670						—						11,670						—
Asset-backed securities			24,792						—						24,792						—
U.S. treasury bills			7,938						—						7,938						—
Certificates of deposit			37,461						—						37,461						—
Agency bonds			5,590						—						5,590						—
Total			207,033						—						207,033						—
Total cash equivalents and marketable securities			$	257,853					$	50,820					$	207,033					$	—

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- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are 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. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C

Reference 2: 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 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

Reference 4: 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.

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