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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets Carried at Fair Value and Measured on a Recurring Basis

The following table details the assets carried at fair value and measured on a recurring basis within the three levels of fair value as of June 30, 2022 and December 31, 2021:

(in thousands)												Gross Unrealized																		Reported as:
June 30, 2022						Amortized Cost						Gains						Losses						Fair Value						Cash and cash equivalents						Short-term investments						Long-term investments
Level 1
Mutual funds						$	1,821					$	—					$	—					$	1,821					$	1,821					$	—					$	—
U.S. treasury securities						39,405						18						(246)						39,177						—						14,976						24,201
Total Level 1						41,226						18						(246)						40,998						1,821						14,976						24,201
Level 2
Commercial paper						266,695						2						(207)						266,490						208,533						57,957						—
Corporate debt securities						7,365						—						(135)						7,230						—						7,230						—
Agency bonds						20,378						19						(219)						20,178						—						8,821						11,357
Total Level 2						294,438						21						(561)						293,898						208,533						74,008						11,357
Total Level 1 and Level 2						$	335,664					$	39					$	(807)					$	334,896					$	210,354					$	88,984					$	35,558

(in thousands)												Gross Unrealized																		Reported as:
December 31, 2021						Amortized Cost						Gains						Losses						Fair Value						Cash and cash equivalents						Short-term investments						Long-term investments
Level 1
Mutual funds						$	21,925					$	—					$	—					$	21,925					$	21,925					$	—					$	—
U.S. treasury securities						15,156						—						(20)						15,136						—						15,136						—
Total Level 1						37,081						—						(20)						37,061						21,925						15,136						—
Level 2
Commercial paper						301,906						2						(90)						301,818						163,694						138,124						—
Corporate debt securities						14,299						—						(36)						14,263						—						6,850						7,413
Agency bonds						8,998						—						(40)						8,958						—						—						8,958
Total Level 2						325,203						2						(166)						325,039						163,694						144,974						16,371
Total Level 1 and Level 2						$	362,284					$	2					$	(186)					$	362,100					$	185,619					$	160,110					$	16,371

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
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