Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Measurements

Summary of major categories of financial assets and liabilities measured at fair value on a recurring basis

The following fair value hierarchy table presents information about each major category of our financial assets and liabilities measured at fair value on a recurring basis (in thousands):

	Level 1		Level 2		Level 3		Total
March 31, 2024
Assets
Cash	$	1,420	$	—	$	—	$	1,420
Money market funds (cash equivalents)		102,833		—		—		102,833
U.S. Treasury securities		—		9,000		—		9,000
Total assets	$	104,253	$	9,000	$	—	$	113,253
December 31, 2023
Assets
Cash	$	1,255	$	—	$	—	$	1,255
Money market funds (cash equivalents)		119,317		—		—		119,317
U.S. Treasury securities		—		26,835		—		26,835
Agency securities		—		2,881		—		2,881
Total assets	$	120,572	$	29,716	$	—	$	150,288

Schedule of short-term investments

	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
March 31, 2024
U.S. Treasury securities	$	9,000	$	155	$	(155)	$	9,000
Total	$	9,000	$	155	$	(155)	$	9,000
December 31, 2023
U.S. Treasury securities	$	26,852	$	138	$	(155)	$	26,835
U.S. Government Agency securities		2,884		31		(34)		2,881
Total	$	29,736	$	169	$	(189)	$	29,716