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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Assets Measured at Fair Value on Recurring Basis | Assets measured at fair value on a recurring basis are as follows (in thousands):
|  |  |  |  | Fair Value Measurements Using |
|  | Total |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
As of March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 3,459 |  |  | $ | 3,459 |  |  | $ | — |  |  | $ | — |
Available-for-sale investments: |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  |  | 44,635 |  |  |  | — |  |  |  | 44,635 |  |  |  | — |
Corporate debt securities |  |  | 26,142 |  |  |  | — |  |  |  | 26,142 |  |  |  | — |
U.S. government agencies |  |  | 6,911 |  |  |  | — |  |  |  | 6,911 |  |  |  | — |
Total available-for-sale investments |  |  | 77,688 |  |  |  | — |  |  |  | 77,688 |  |  |  | — |
Total assets measured at fair value |  | $ | 81,147 |  |  | $ | 3,459 |  |  | $ | 77,688 |  |  | $ | — |
|  |  |  |  | Fair Value Measurements Using |
|  | Total |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
As of December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 21,626 |  |  | $ | 21,626 |  |  | $ | — |  |  | $ | — |
Available-for-sale investments: |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  |  | 31,198 |  |  |  | — |  |  |  | 31,198 |  |  |  | — |
Corporate debt securities |  |  | 27,578 |  |  |  | — |  |  |  | 27,578 |  |  |  | — |
U.S. government agencies |  |  | 16,846 |  |  |  | — |  |  |  | 16,846 |  |  |  | — |
Total available-for-sale investments |  |  | 75,622 |  |  |  | — |  |  |  | 75,622 |  |  |  | — |
Total assets measured at fair value |  | $ | 97,248 |  |  | $ | 21,626 |  |  | $ | 75,622 |  |  | $ | — |
Schedule of Available-for-sale Investments | As of March 31, 2024 and December 31, 2023, available-for-sale investments are detailed as follows (in thousands):
|  |  |  | March 31, 2024 |
|  | Contractual Maturity |  | Gross Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Market Value |
Available-for-sale investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | Within 1 year |  | $ | 44,708 |  |  | $ | — |  |  | $ | (73 | ) |  | $ | 44,635 |
Corporate debt securities |  | Within 2 years |  |  | 26,176 |  |  |  | 4 |  |  |  | (38 | ) |  |  | 26,142 |
U.S. government agencies |  | Within 1 year |  |  | 6,912 |  |  |  | — |  |  |  | (1 | ) |  |  | 6,911 |
|  |  |  | $ | 77,796 |  |  | $ | 4 |  |  | $ | (112 | ) |  | $ | 77,688 |
|  |  |  | December 31, 2023 |
|  | Contractual Maturity |  | Gross Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Market Value |
Available-for-sale investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | Within 1 year |  | $ | 31,198 |  |  | $ | 14 |  |  | $ | (14 | ) |  | $ | 31,198 |
Corporate debt securities |  | Within 2 years |  |  | 27,607 |  |  |  | 12 |  |  |  | (41 | ) |  |  | 27,578 |
U.S. government agencies |  | Within 1 year |  |  | 16,841 |  |  |  | 26 |  |  |  | (21 | ) |  |  | 16,846 |
|  |  |  | $ | 75,646 |  |  | $ | 52 |  |  | $ | (76 | ) |  | $ | 75,622 |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-9 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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