Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Assets or Liabilities Measured at Fair Value on Recurring Basis

In accordance with the fair value hierarchy, the following table shows the fair value as of March 31, 2022 and December 31, 2021 of those financial assets and liabilities that are measured at fair value on a recurring basis, according to the valuation techniques the Company used to determine their fair value. No financial assets or liabilities are measured at fair value on a nonrecurring basis at March 31, 2022 and December 31, 2021.

(in thousands)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Fair Value
As of March 31, 2022:
Cash equivalents:
Money market funds	$	2,314	$	—	$	—	$	2,314
Short-term investments:
Corporate commercial paper, bonds and notes	—		102,185		—		102,185
Total	$	2,314	$	102,185	$	—	$	104,499

    

(in thousands)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Fair Value
As of December 31, 2021:
Cash equivalents:
Money market funds	$	33,944	$	—	$	—	$	33,944
Short-term investments:
Corporate commercial paper, bonds and notes	—		75,870		—		75,870
Long-term investments:
Corporate commercial paper, bonds and notes	—		23,964		—		23,964
Total	$	33,944	$	99,834	$	—	$	133,778