XML 43 R32.htm IDEA: XBRL DOCUMENT v3.22.0.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Company’s Assets and Liabilities that are Measured and Recognized at Fair Value on a Recurring Basis Classified Under the Appropriate Level of the Fair Value Hierarchy
The following table presents the Company’s assets and liabilities that are measured and recognized at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy as of December 31, 2021 and 2020:
Fair Value Measurements at
December 31, 2021
(in thousands)Quoted Prices in Active Markets for Identical Assets and Liabilities
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Total
Assets:
Money market fund$10,990 $— $— $10,990 
Total included in cash and cash equivalents$10,990 $— $— $10,990 
Available for sale investments:
Certificate of deposit— 1,260 — 1,260 
Corporate debt securities— 88,390 — 88,390 
    Commercial paper— 14,454 — 14,454 
Non U.S. government— 728 — 728 
U.S. treasury securities24,046 — — 24,046 
Total available for sale investments (1)$24,046 $104,832 $— $128,878 
Total assets measured at fair value on a recurring basis$35,036 $104,832 $— $139,868 
Fair Value Measurements at
December 31, 2020
(in thousands)Quoted Prices in Active Markets for Identical Assets and Liabilities
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Total
Assets:    
    Money market fund$129,988 $— $— $129,988 
Total assets measured at fair value on a recurring basis$129,988 $— $— $129,988 
Liabilities:    
Derivative financial instrumentswarrants (2)
$— $— $285 $285 
Total liabilities measured at fair value on a recurring basis$— $— $285 $285 

(1) Included in short-term investments in the accompanying balance sheets.

(2) A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs or instruments that trade infrequently and therefore have little or no price transparency are classified as Level 3. See Note 7 to the financial statements for further information.