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Fair Value Measurements and Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 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:
September 30, 2024
Amortized
Cost Basis
Unrealized
Gains
Unrealized
Losses
Estimated
Fair Value
(In thousands)
Level 1:
Money market funds
$10,188 $— $— $10,188 
Level 2:
Commercial paper
84,105 26 (5)84,126 
U.S. government and agency securities48,989 129 — 49,118 
Total cash equivalents and short-term investments143,282 155 (5)143,432 
Less: Cash equivalents(83,044)(3)(83,042)
Total short-term investments$60,238 $152 $— $60,390 
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 paper64,693 — (35)64,658 
U.S. government and agency securities17,616 (17)17,603 
Total cash equivalents and short-term investments92,513 (52)92,465 
Less: Cash equivalents(70,972)— 33 (70,939)
Total short-term investments$21,541 $$(19)$21,526