Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

The following tables summarize the Company’s assets by significant categories carried at fair value measured on a recurring basis by valuation hierarchy (in thousands):

	June 30, 2024
	Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Level 1:
Money market funds	$	64,561	$	—	$	—		$	64,561	$	64,561	$	—
Subtotal	$	64,561	$	—	$	—		$	64,561	$	64,561	$	—
Level 2:
Commercial paper	$	94,145	$	—	$	(18	)	$	94,127	$	7,978	$	86,149
U.S. Treasury securities	$	41,195	$	—	$	(13	)	$	41,182	$	—	$	41,182
U.S. Agency securities	$	62,165	$	3	$	(20	)	$	62,148	$	—	$	62,148
Subtotal	$	197,505	$	3	$	(51	)	$	197,457	$	7,978	$	189,479
Total	$	262,066	$	3	$	(51	)	$	262,018	$	72,539	$	189,479

	December 31, 2023
	Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Level 1:
Money market funds	$	270,476	$	—	$	—		$	270,476	$	270,476	$	—
Subtotal	$	270,476	$	—	$	—		$	270,476	$	270,476	$	—
Level 2:
Commercial paper	$	19,295	$	8	$	—		$	19,303	$	1,998	$	17,305
U.S. Treasury securities		17,762		8		—			17,771		2,990		14,781
U.S. Agency securities		17,694		8		(1	)		17,701		—		17,701
Subtotal	$	54,751	$	24	$	(1	)	$	54,775	$	4,988	$	49,787
Total	$	325,227	$	24	$	(1	)	$	325,251	$	275,464	$	49,787