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

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Cash Equivalents and Short-term Investments

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


			September 30, 2022
			Amortized Cost Basis						Unrealized Gains						Unrealized Losses						Estimated Fair Value
			(In thousands)
Level 1:
Money market funds			$	10,074					$	—					$	—					$	10,074
Level 2:
U.S. government and agency securities			81,323						2						(1,165)						80,160
Commercial paper			99,867						—						(294)						99,573
Corporate bonds			2,059						—						(49)						2,010
Total cash equivalents and short-term investments			193,323						2						(1,508)						191,817
Less: cash equivalents			(72,987)						(2)						6						(72,983)
Total short-term investments			$	120,336					$	—					$	(1,502)					$	118,834


			December 31, 2021
			Amortized Cost Basis						Unrealized Gains						Unrealized Losses						Estimated Fair Value
			(In thousands)
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