v3.23.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Summary of Company's Financial Instruments Measured at Fair Value on a Recurring Basis

The following table summarizes the Company’s financial instruments measured at fair value on a recurring basis at June 30, 2023 and December 31, 2022 (in thousands):

 

 

 

Fair Value Measurement at End of Period Using:

 

 

 

 

 

 

Quoted Prices

 

 

 

 

 

 

 

 

 

 

 

 

In Active

 

 

 

 

 

 

 

 

 

 

 

 

Markets

 

 

Significant

 

 

 

 

 

 

 

 

 

For

 

 

Other

 

 

Significant

 

 

 

 

 

 

Identical

 

 

Observable

 

 

Unobservable

 

 

 

 

 

 

Assets

 

 

Inputs

 

 

Inputs

 

 

 

Total

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

As of June 30, 2023:

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds(1)

 

$

23,543

 

 

$

23,543

 

 

$

—

 

 

$

—

 

Certificates of deposit

 

 

13,319

 

 

 

13,319

 

 

 

—

 

 

 

—

 

U.S. Treasury securities

 

 

235,077

 

 

 

235,077

 

 

 

—

 

 

 

—

 

U.S. Government agency securities

 

 

27,495

 

 

 

—

 

 

 

27,495

 

 

 

—

 

Total

 

$

299,434

 

 

$

271,939

 

 

$

27,495

 

 

$

—

 

As of December 31, 2022:

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds(1)

 

$

20,895

 

 

$

20,895

 

 

$

—

 

 

$

—

 

Certificates of deposit

 

 

7,929

 

 

 

7,929

 

 

 

—

 

 

 

—

 

U.S. Treasury securities

 

 

265,966

 

 

 

265,966

 

 

 

—

 

 

 

—

 

U.S. Government agency securities

 

 

29,992

 

 

 

—

 

 

 

29,992

 

 

 

—

 

Total

 

$

324,782

 

 

$

294,790

 

 

$

29,992

 

 

$

—

 

 

(1)
Included in cash and cash equivalents on the accompanying balance sheets.