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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Financial Assets Fair Value Measurement on Recurring Basis

The following table presents the Company’s financial assets, which consist of cash equivalents and investments classified as available-for-sale investments, that are measured at fair value on a recurring basis (in thousands):

		June 30, 2023
		Level		Amortized Cost				Unrealized Gain				Unrealized Loss				Estimated Fair Value
Cash equivalents:
Money market funds		Level 1		$	27,250			$	—			$	—			$	27,250
Short-term investments:
U.S. Treasury securities		Level 1			3,726				—				(17	)			3,709
U.S. Government agency securities		Level 2			27,012				3				(60	)			26,955
Commercial paper		Level 2			21,900				1				(40	)			21,861
Asset-backed securities		Level 2			1,927				—				(6	)			1,921
Total				$	81,815			$	4			$	(123	)		$	81,696

		December 31, 2022
		Level		Amortized Cost				Unrealized Gain				Unrealized Loss				Estimated Fair Value
Cash equivalents:
Money market funds		Level 1		$	10,152			$	—			$	—			$	10,152
Short-term investments:
U.S. Treasury securities		Level 1			29,381				—				(213	)			29,168
Commercial paper		Level 2			27,701				2				(82	)			27,621
U.S. Government agency securities		Level 2			12,126				4				(79	)			12,051
Long-term investments:																	—
U.S. Treasury securities		Level 1			1,224				—				(1	)			1,223
U.S. Government agency securities		Level 2			2,001				—				(5	)			1,996
Total				$	82,585			$	6			$	(380	)		$	82,211

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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