Assets and liabilities measured at fair value at each balance sheet date are as follows (in thousands):


	March 31, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	41,297	$	—	$	—	$	41,297


Short-term marketable securities:
U.S. government treasuries	829,409		—		—		829,409

Corporate debt securities	—		1,079		—		1,079
Commercial paper	—		45,807		—		45,807
Long-term marketable securities:
U.S. government treasuries	475,196		—		—		475,196

Corporate debt securities	—		15,527		—		15,527
Total	$	1,345,902	$	62,413	$	—	$	1,408,315


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	121,034	$	—	$	—	$	121,034


Short-term marketable securities:
U.S. government treasuries	869,172		—		—		869,172
U.S. government agency securities	—		7,086		—		7,086

Commercial paper	—		31,147		—		31,147




Total	$	990,206	$	38,233	$	—	$	1,028,439