| 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 September 30, 2024 |
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|
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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 |
|
$ |
4,367 |
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|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,367 |
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Corporate debt |
|
Level 2 |
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|
19,571 |
|
|
|
50 |
|
|
|
— |
|
|
|
19,621 |
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Asset-backed securities |
|
Level 2 |
|
|
3,714 |
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|
|
8 |
|
|
|
— |
|
|
|
3,722 |
|
Commercial paper |
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Level 2 |
|
|
17,453 |
|
|
|
— |
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|
|
— |
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|
|
17,453 |
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U.S. government agency securities |
|
Level 2 |
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52,564 |
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|
|
51 |
|
|
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(2 |
) |
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|
52,613 |
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Subtotal |
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|
|
|
97,669 |
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|
|
109 |
|
|
|
(2 |
) |
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|
97,776 |
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Less: Cash equivalents |
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(37,771 |
) |
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|
— |
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|
|
— |
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|
|
(37,771 |
) |
Marketable securities |
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|
|
$ |
59,898 |
|
|
$ |
109 |
|
|
$ |
(2 |
) |
|
$ |
60,005 |
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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 |
|
|
59,828 |
|
|
|
7 |
|
|
|
(8 |
) |
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|
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 |
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Less: Cash equivalents |
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|
|
|
(47,395 |
) |
|
|
— |
|
|
|
— |
|
|
|
(47,395 |
) |
Marketable securities |
|
|
|
$ |
111,281 |
|
|
$ |
142 |
|
|
$ |
(39 |
) |
|
$ |
111,384 |
|
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| Schedule of Remaining Contractual Maturities of Marketable Securities |
The following table presents the remaining contractual maturities of the Company’s marketable securities as of September 30, 2024 (in thousands):
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September 30, 2024 |
|
Maturing in one year or less |
|
$ |
60,005 |
|
Maturing after one year through five years |
|
|
— |
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Total |
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$ |
60,005 |
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