| Schedule of Cash Equivalents and Marketable Securities Classified as Available-for-Sale Securities Measured at Fair Value on Recurring Basis |
Cash equivalents and marketable securities, all of which are classified as available-for-sale securities and measured at fair value on a recurring basis, consisted of the following (in thousands):
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As of March 31, 2024 |
|
|
|
Fair Value
Hierarchy
Level |
|
Amortized
Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
Financial assets: |
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|
|
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|
|
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|
|
|
|
|
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Money market funds |
|
Level 1 |
|
$ |
10,337 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
10,337 |
|
Corporate debt |
|
Level 2 |
|
|
18,795 |
|
|
|
15 |
|
|
|
(9 |
) |
|
|
18,801 |
|
Asset-backed securities |
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Level 2 |
|
|
4,772 |
|
|
|
1 |
|
|
|
(2 |
) |
|
|
4,771 |
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Commercial paper |
|
Level 2 |
|
|
55,661 |
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|
|
2 |
|
|
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(5 |
) |
|
|
55,658 |
|
U.S. government agency securities |
|
Level 2 |
|
|
52,024 |
|
|
|
17 |
|
|
|
(29 |
) |
|
|
52,012 |
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Subtotal |
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|
|
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141,589 |
|
|
|
35 |
|
|
|
(45 |
) |
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|
141,579 |
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Less: Cash equivalents |
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|
|
(45,317 |
) |
|
|
— |
|
|
|
— |
|
|
|
(45,317 |
) |
Marketable securities |
|
|
|
$ |
96,272 |
|
|
$ |
35 |
|
|
$ |
(45 |
) |
|
$ |
96,262 |
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|
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|
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|
|
|
|
|
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|
|
|
|
|
|
|
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As of December 31, 2023 |
|
|
|
Fair Value
Hierarchy
Level |
|
Amortized
Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets: |
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|
|
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|
|
|
|
|
|
|
|
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Money market funds |
|
Level 1 |
|
$ |
10,869 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
10,869 |
|
Corporate debt |
|
Level 2 |
|
|
19,531 |
|
|
|
37 |
|
|
|
(9 |
) |
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|
19,559 |
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Asset-backed securities |
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Level 2 |
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|
5,242 |
|
|
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7 |
|
|
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(4 |
) |
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|
5,245 |
|
Commercial paper |
|
Level 2 |
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|
59,828 |
|
|
|
7 |
|
|
|
(8 |
) |
|
|
59,827 |
|
U.S. government agency securities |
|
Level 2 |
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|
63,206 |
|
|
|
91 |
|
|
|
(18 |
) |
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|
63,279 |
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Subtotal |
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|
|
|
158,676 |
|
|
|
142 |
|
|
|
(39 |
) |
|
|
158,779 |
|
Less: Cash equivalents |
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|
|
|
(47,395 |
) |
|
|
— |
|
|
|
— |
|
|
|
(47,395 |
) |
Marketable securities |
|
|
|
$ |
111,281 |
|
|
$ |
142 |
|
|
$ |
(39 |
) |
|
$ |
111,384 |
|
|
| Schedule of Remaining Contractual Maturities of Marketable Securities |
The following table presents the remaining contractual maturities of the Company’s marketable securities as of March 31, 2024 (in thousands):
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|
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|
March 31, 2024 |
|
Maturing in one year or less |
|
$ |
88,717 |
|
Maturing after one year through five years |
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|
7,545 |
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Total |
|
$ |
96,262 |
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|