v3.24.3
FAIR VALUE MEASUREMENTS
9 Months Ended
Sep. 30, 2024
FAIR VALUE MEASUREMENTS  
FAIR VALUE MEASUREMENTS

6. FAIR VALUE MEASUREMENTS

Money market funds are classified as Level 1 fair value instruments. Investments in available-for-sale debt securities are classified as Level 2 and carried at fair value, which we estimate utilizing a third-party pricing service. The pricing service utilizes industry standard valuation models whereby all significant inputs, including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, bids, offers, or other market-related data, are observable. We validate valuations obtained from third-party services by obtaining market values from other pricing sources. The Company did not classify any assets or liabilities as Level 3 as of September 30, 2024, or December 31, 2023.

The Company’s assets measured at fair value consisted of the following:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2024

​

December 31, 2023

​

​

Total

​

Level 1

​

Level 2

​

​

Total

​

Level 1

​

Level 2

Assets

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash equivalents

$

296,384

​

296,384

​

—

​

$

244,569

​

243,685

​

884

Commercial paper

​

10,280

​

—

​

10,280

​

​

24,609

​

—

​

24,609

Corporate debt securities

​

81,001

​

—

​

81,001

​

​

58,737

​

—

​

58,737

U.S. government securities

​

26,050

​

—

​

26,050

​

​

30,623

​

—

​

30,623

Total

$

413,715

​

296,384

​

117,331

​

$

358,538

​

243,685

​

114,853

​