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Fair Value Measurements and Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Summary of Cash Equivalents and Short-term Investments

The following is a summary of the Company’s cash equivalents and short-term investments (in thousands):


			December 31, 2021
			Amortized Cost Basis						Unrealized Gains						Unrealized Loses						Estimated Fair Value
Level 1
Money market funds			$	10,311					$	—					$	—					$	10,311
Level 2
U.S. government and agency securities			62,268						—						(218)						62,050
Commercial paper			177,215						1						(61)						177,155
Corporate bonds			47,323						—						(39)						47,284
Total cash equivalents and short-term investments			297,117						1						(318)						296,800
Less: Cash equivalents			(25,808)						—						1						(25,807)
Total short-term investments			$	271,309					$	1					$	(317)					$	270,993


			December 31, 2020
			Amortized Cost Basis						Unrealized Gains						Unrealized Loses						Estimated Fair Value
Level 1
Money market funds			$	178					$	—					$	—					$	178
Level 2
U.S. government and agency securities			328,583						121						(5)						328,699
Commercial paper			97,324						—						(5)						97,319

Total cash equivalents and short-term investments			426,085						121						(10)						426,196
Less: Cash equivalents			(58,894)						—						3						(58,891)
Total short-term investments			$	367,191					$	121					$	(7)					$	367,305