| Fair Value of Financial Assets and Liabilities Measured on Recurring Basis |
The following table sets forth the fair value of the Company’s financial assets and liabilities measured on a recurring basis by level within the fair value hierarchy:
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March 31, 2024 |
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Total |
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Level 1 |
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Level 2 |
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|
Level 3 |
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(in thousands) |
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Assets: |
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|
|
|
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Money market funds |
|
$ |
42,498 |
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|
$ |
42,498 |
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|
$ |
- |
|
|
$ |
- |
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Commercial paper |
|
|
21,379 |
|
|
- |
|
|
|
21,379 |
|
|
|
- |
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Corporate debt securities |
|
|
44,036 |
|
|
- |
|
|
|
44,036 |
|
|
|
- |
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Equity securities |
|
|
45,616 |
|
|
|
45,616 |
|
|
|
- |
|
|
|
- |
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Asset-backed securities |
|
|
44,598 |
|
|
- |
|
|
|
44,598 |
|
|
|
- |
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U.S. government securities |
|
|
113,130 |
|
|
|
113,130 |
|
|
|
- |
|
|
|
- |
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Total |
|
$ |
311,257 |
|
|
$ |
201,244 |
|
|
$ |
110,013 |
|
|
$ |
- |
|
|
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December 31, 2023 |
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|
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Total |
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|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
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|
|
(in thousands) |
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Assets: |
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|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
56,397 |
|
|
$ |
56,397 |
|
|
$ |
- |
|
|
$ |
- |
|
Commercial paper |
|
|
82,152 |
|
|
|
- |
|
|
|
82,152 |
|
|
|
- |
|
Corporate debt securities |
|
|
61,894 |
|
|
|
- |
|
|
|
61,894 |
|
|
|
- |
|
Equity securities |
|
|
41,937 |
|
|
|
41,937 |
|
|
|
- |
|
|
|
- |
|
Asset-backed securities |
|
|
10,505 |
|
|
|
- |
|
|
|
10,505 |
|
|
|
- |
|
U.S. government securities |
|
|
113,652 |
|
|
|
113,652 |
|
|
|
- |
|
|
|
- |
|
U.S. agency securities |
|
|
4,961 |
|
|
|
- |
|
|
|
4,961 |
|
|
|
- |
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Total |
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$ |
371,498 |
|
|
$ |
211,986 |
|
|
$ |
159,512 |
|
|
$ |
- |
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