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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Cash Equivalents and Available-for-sale Securities Carrying Amounts and Fair Values

The Company’s financial assets consist of money market funds, U.S. government debt securities and corporate debt securities. The following tables show the Company’s cash equivalents and available-for-sale securities’ carrying amounts and fair values as of June 30, 2023, and December 31, 2022:

		As of June 30, 2023
		Carrying Amount				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value				Quoted priced in active markets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
Financial assets
Money market funds		$	64,692			$	—			$	—			$	64,692			$	64,692			$	—			$	—
Corporate securities			76,079				—				(149	)			75,930				—				75,930				—
Government securities			74,884				—				(179	)			74,705				64,738				9,967				—
Total financial assets		$	215,655			$	—			$	(328	)		$	215,327			$	129,430			$	85,897			$	—

		As of December 31, 2022
		Carrying Amount				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value				Quoted Priced in Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Financial assets
Money market funds		$	106,861			$	—			$	—			$	106,861			$	106,861			$	—			$	—
Corporate securities			103,755				21				(185	)			103,591				—				103,591				—
Government securities			31,942				—				(281	)			31,661				20,981				10,680				—
Total financial assets		$	242,558			$	21			$	(466	)		$	242,113			$	127,842			$	114,271			$	—

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- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-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

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X

- References

No definition available.

+ Details

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