| Summary of Financial Assets Measured at Fair Value on Recurring Basis |
The following tables summarize the Company’s financial assets measured at fair value on a recurring basis and their respective input levels based on the fair value hierarchy (in thousands):
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Fair value measurements as of June 30, 2024 using |
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Quoted prices in |
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Significant |
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Significant |
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active markets |
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other |
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unobservable |
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June 30, |
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for identical |
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observable |
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inputs |
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2024 |
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assets (level 1) |
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inputs (level 2) |
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(level 3) |
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Assets: |
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Money market funds(1) |
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$ |
169,440 |
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$ |
169,440 |
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$ |
— |
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$ |
— |
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US treasury securities(2) |
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54,219 |
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54,219 |
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— |
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— |
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US government agency securities(2) |
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40,633 |
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— |
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40,633 |
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— |
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Corporate debt securities(2) |
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39,597 |
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— |
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39,597 |
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— |
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Commercial paper(2) |
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101,161 |
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— |
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101,161 |
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— |
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US treasury securities(3) |
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29,619 |
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29,619 |
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— |
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— |
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US government agency securities(3) |
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22,217 |
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— |
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22,217 |
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— |
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Total fair value of assets |
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$ |
456,886 |
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$ |
253,278 |
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$ |
203,608 |
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$ |
— |
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(1)Included as cash and cash equivalents on the condensed consolidated balance sheets. (2)Included as short-term marketable securities on the condensed consolidated balance sheets. (3)Included as long-term marketable securities on the condensed consolidated balance sheets.
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Fair value measurements as of December 31, 2023 using |
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Quoted prices in |
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Significant |
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Significant |
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active markets |
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other |
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unobservable |
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December 31, |
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for identical |
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observable |
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inputs |
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2023 |
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assets (level 1) |
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inputs (level 2) |
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(level 3) |
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Assets: |
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Money market funds(1) |
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$ |
83,101 |
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$ |
83,101 |
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$ |
— |
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$ |
— |
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US treasury securities(2) |
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93,303 |
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93,303 |
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— |
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— |
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US government agency securities(2) |
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26,824 |
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— |
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26,824 |
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— |
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Corporate debt securities(2) |
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10,734 |
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— |
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10,734 |
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— |
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Commercial paper(2) |
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88,414 |
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— |
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88,414 |
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— |
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US treasury securities(3) |
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9,642 |
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9,642 |
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— |
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— |
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Total fair value of assets |
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$ |
312,018 |
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$ |
186,046 |
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$ |
125,972 |
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$ |
— |
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(1)Included as cash and cash equivalents on the condensed consolidated balance sheets. (2)Included as short-term marketable securities on the condensed consolidated balance sheets. (3)Included as long-term marketable securities on the condensed consolidated balance sheets.
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