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Cash, Cash Equivalents and Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2023

Cash and Cash Equivalents [Abstract]

Schedule of Cash, Cash Equivalents and Marketable Securities by Major Security Type

The Company’s cash, cash equivalents and marketable securities by major security type as of March 31, 2023 and December 31, 2022 were as follows (in thousands):

			March 31, 2023
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Cash and cash equivalents:
Cash			$	200					$	—					$	—					$	200
Money market funds			368						—						—						368
Commercial paper			25,743						—						(5)						25,738
U.S. federal agency securities			895						—						—						895
Total cash and cash equivalents			27,206						—						(5)						27,201
Current marketable securities:
Commercial paper			11,125						—						(33)						11,092
U.S. federal agency securities			26,102						—						(210)						25,892
U.S. government securities			6,678						—						(75)						6,603
Total current marketable securities			43,905						—						(318)						43,587
Long-term marketable securities:
U.S. federal agency securities			17,236						50						(65)						17,221
U.S. government securities			10,646						5						(131)						10,520
Corporate debt securities			1,169						7						—						1,176
Total long-term marketable securities			29,051						62						(196)						28,917
Total cash, cash equivalents and marketable securities			$	100,162					$	62					$	(519)					$	99,705

			December 31, 2022
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Cash and cash equivalents:
Cash			$	913					$	—					$	—					$	913
Money market funds			2,618						—						—						2,618
Commercial paper			26,356						—						(9)						26,347
Total cash and cash equivalents			29,887						—						(9)						29,878
Current marketable securities:
Commercial paper			15,219						2						(66)						15,155
Corporate debt securities			507						—						(5)						502
U.S. federal agency securities			28,964						—						(364)						28,600
U.S. government securities			8,702						—						(133)						8,569
Total current marketable securities			53,392						2						(568)						52,826
Long-term marketable securities:
U.S. federal agency securities			9,810						—						(199)						9,611
U.S. government securities			10,770						—						(208)						10,562
Corporate debt securities			1,156						—						—						1,156
Total long-term marketable securities			21,736						—						(407)						21,329
Total cash, cash equivalents and marketable securities			$	105,015					$	2					$	(984)					$	104,033

Schedule of Marketable Securities Classified by Contractual Maturities

The Company’s marketable securities classified by contractual maturities as of March 31, 2023 were as follows (in thousands):

			Amortized Cost						Fair Value
Due within one year			$	43,905					$	43,587
Due after one year through five years			29,051						28,917
Total			$	72,956					$	72,504

Schedule of Marketable Securities and Cash Equivalents in Unrealized Loss Positions

The following tables summarize the Company’s available-for-sale debt securities and cash equivalents with unrealized losses as of March 31, 2023 and December 31, 2022, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in thousands):

			March 31, 2023
			Less than 12 months												12 months or greater												Total
			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
Commercial paper			$	32,187					$	(38)					$	—					$	—					$	32,187					$	(38)
U.S. federal agency securities			11,898						(179)						17,946						(96)						29,844						(275)
U.S. government securities			10,670						(156)						4,652						(50)						15,322						(206)
Total			$	54,755					$	(373)					$	22,598					$	(146)					$	77,353					$	(519)

			December 31, 2022
			Less than 12 months												12 months or greater												Total
			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
Commercial paper			$	40,063					$	(75)					$	—					$	—					$	40,063					$	(75)
Corporate debt securities			1,156						—						502						(5)						1,658						(5)
U.S. federal agency securities			12,869						(228)						25,342						(335)						38,211						(563)
U.S. government securities			10,562						(208)						8,569						(133)						19,131						(341)
Total			$	64,650					$	(511)					$	34,413					$	(473)					$	99,063					$	(984)

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Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
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-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
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-Topic 320
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-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479106/326-30-50-4

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