Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Measurements

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

The Company’s assets measured at fair value on a recurring basis as of September 30, 2023 consisted of the following (in thousands):

	Fair Value Measurement at September 30, 2023
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents - money market funds	$	82,102	$	82,102	$	—	$	—
Short-term investments		53,924		—		53,924		—
Total	$	136,026	$	82,102	$	53,924	$	—

The Company’s assets measured at fair value on a recurring basis as of December 31, 2022 consisted of the following (in thousands):

	Fair Value Measurement at December 31, 2022
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents - money market funds	$	105,794	$	105,794	$	—	$	—
Short-term investments		73,783		—		73,783		—
Total	$	179,577	$	105,794	$	73,783	$	—

Schedule of Short Term Investments

Short-term investments with quoted prices as of September 30, 2023 as shown below (in thousands):

	September 30, 2023
	Amortized Cost		Unrealized (Loss) Gain		Credit loss		Market Value
United States treasury securities	$	9,857	$	(7)	$	—	$	9,850
Commercial paper and corporate debt securities		33,328		(53)		—		33,275
Asset backed securities		2,937		(12)		—		2,925
Agency debt securities		7,886		(12)		—		7,874
Total	$	54,008	$	(84)	$	—	$	53,924

Short-term investments with quoted prices as of December 31, 2022 as shown below (in thousands):

	December 31, 2022
	Amortized Cost		Unrealized (Loss) Gain		Credit Loss		Market Value
United States treasury securities	$	15,868	$	(86)	$	—	$	15,782
Commercial paper and corporate debt securities		50,747		(71)		—		50,676
Asset backed securities		5,427		(35)		—		5,392
Agency debt securities		1,928		5		—		1,933
Total	$	73,970	$	(187)	$	—	$	73,783