Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

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 September 30, 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.


(in thousands)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Fair Value
As of September 30, 2022:
Cash equivalents:
Money market funds	$	21,070	$	—	$	—	$	21,070
Short-term investments:
Corporate debt securities and commercial paper	—		43,162		—		43,162
U.S. treasury securities and government agency obligations	—		25,676		—		25,676


Total	$	21,070	$	68,838	$	—	$	89,908


(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 debt securities and commercial paper	—		75,870		—		75,870
Long-term investments:
Corporate debt securities and commercial paper	—		15,964		—		15,964
U.S. treasury securities and government agency obligations	—		8,000		—		8,000
Total	$	33,944	$	99,834	$	—	$	133,778