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Fair Value Measurements | 3 Months Ended
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Mar. 31, 2022
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements 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 March 31, 2022 and December 31, 2021:
| Fair Value Measurements at March 31, 2022
(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 | $ | 15,824 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,824 |
Corporate debt securities | — |  |  | 3,205 |  |  | — |  |  | 3,205 |
Total included in cash and cash equivalents | 15,824 |  |  | 3,205 |  |  | — |  |  | 19,029 |
Available for sale investments: |  |  |  |  |  |  |
Certificate of deposit | — |  |  | 9,239 |  |  | — |  |  | 9,239 |
Corporate debt securities | — |  |  | 69,664 |  |  | — |  |  | 69,664 |
Commercial paper | — |  |  | 10,468 |  |  | — |  |  | 10,468 |
U.S. treasury securities | 19,939 |  |  | — |  |  | — |  |  | 19,939 |
Total available for sale investments (1) | 19,939 |  |  | 89,371 |  |  | — |  |  | 109,310 |
Total assets measured at fair value on a recurring basis | $ | 35,763 |  |  | $ | 92,576 |  |  | $ | — |  |  | $ | 128,339 |
| 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 securities | 24,046 |  |  | — |  |  | — |  |  | 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 |
(1) Included in short-term investments in the accompanying balance sheets. The Company’s policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of Level 3 during the three months ended March 31, 2022 and 2021.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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