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Fair Value Measurements
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
ASC Topic 820, Fair Value Measurement, establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value, as follows: Level 1 Inputs - unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date; Level 2 Inputs - other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 Inputs - unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.
Assets measured at fair value on a recurring basis as of June 30, 2024 are as follows:
TotalLevel 1Level 2Level 3
Assets
Short-term investments:
Investment in convertible notes receivable— — — — 
Total financial assets$— $— $— $— 
Assets measured at fair value on a recurring basis as of December 31, 2023 are as follows:
TotalLevel 1Level 2Level 3
Assets
Cash equivalents:
Money market funds$1,629 $1,629 $— $— 
Short-term investments:
Investment in convertible notes receivable— — — — 
Total financial assets$1,629 $1,629 $— $— 
The Company uses the market approach and Level 1 and Level 2 inputs to value its cash equivalents and Level 2 inputs to value its short-term investments. The Company uses the market approach and Level 3 inputs to value its liabilities. There were no liabilities measured at fair value on a recurring basis as of as of December 31, 2023 nor June 30, 2024.
There were no transfers between Level 1, 2, or 3, during the six months ended June 30, 2024, and 2023. Both observable and unobservable in puts were used to determine fair value of the positions that the Company classified within the Level 3 category. Unrealized gains and losses associated within the Level 3 category include changes in fair value that were attributable to both observable and unobservable inputs.