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Fair Value Measurements
6 Months Ended
Jun. 30, 2024
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 June 30, 2024, and December 31, 2023:
 
Fair Value Measurements at
June 30, 2024
(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$24,349 $— $— $24,349 
Total included in cash and cash equivalents24,349 — — 24,349 
Available for sale investments:
Certificate of deposit— 5,946 — 5,946 
Corporate debt securities— 13,849 — 13,849 
    Commercial paper— 2,399 — 2,399 
U.S. treasury securities12,624 — — 12,624 
Total available for sale investments12,624 22,194 — 34,818 
Total assets measured at fair value on a recurring basis$36,973 $22,194 $— $59,167 
Fair Value Measurements at
December 31, 2023
(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$21,606 $— $— $21,606 
Total included in cash and cash equivalents21,606 — — 21,606 
Available for sale investments:
Certificate of deposit— 8,333 — 8,333 
Corporate debt securities— 19,373 — 19,373 
    Commercial paper— 6,202 — 6,202 
U.S. government agencies— 834 — 834 
U.S. treasury securities18,426 — — 18,426 
Total available for sale investments18,426 34,742 — 53,168 
Total assets measured at fair value on a recurring basis$40,032 $34,742 $— $74,774 
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 six months ended June 30, 2024