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

3 Months Ended

Mar. 31, 2024

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:


			March 31, 2024
			Amortized Cost Basis						Unrealized Gains						Unrealized Losses						Estimated Fair Value
			(In thousands)
Level 1:
Money market funds			$	5,333					$	—					$	—					$	5,333
Level 2:
Commercial paper			142,377						—						(78)						142,299
U.S. government and agency securities			35,485						—						(11)						35,474
Total cash equivalents and short-term investments			183,195						—						(89)						183,106
Less: Cash equivalents			(139,451)						—						65						(139,386)
Total short-term investments			$	43,744					$	—					$	(24)					$	43,720


			December 31, 2023
			Amortized Cost Basis						Unrealized Gains						Unrealized Losses						Estimated Fair Value
			(In thousands)
Level 1:
Money market funds			$	10,204					$	—					$	—					$	10,204
Level 2:
Commercial paper			64,693						—						(35)						64,658
U.S. government and agency securities			17,616						4						(17)						17,603

Total cash equivalents and short-term investments			92,513						4						(52)						92,465
Less: Cash equivalents			(70,972)						—						33						(70,939)
Total short-term investments			$	21,541					$	4					$	(19)					$	21,526