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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis are as follows (in thousands):

 

 

 

 

 

 

Fair Value Measurements Using

 

 

 

Total

 

 

Quoted Prices in
Active
Markets
for
Identical
Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

As of June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

7,455

 

 

$

7,455

 

 

$

 

 

$

 

Available-for-sale investments:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

26,720

 

 

 

 

 

 

26,720

 

 

 

 

Corporate debt securities

 

 

44,550

 

 

 

 

 

 

44,550

 

 

 

 

Municipal bonds

 

 

8,800

 

 

 

 

 

 

8,800

 

 

 

 

Total available-for-sale investments

 

 

80,070

 

 

 

 

 

 

80,070

 

 

 

 

Total assets measured at fair value

 

$

87,525

 

 

$

7,455

 

 

$

80,070

 

 

$

 

 

 

 

 

 

 

Fair Value Measurements Using

 

 

 

Total

 

 

Quoted Prices in
Active
Markets
for
Identical
Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

As of December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

2,052

 

 

$

2,052

 

 

$

 

 

$

 

Available-for-sale investments:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

36,921

 

 

 

 

 

 

36,921

 

 

 

 

Corporate debt securities

 

 

55,713

 

 

 

 

 

 

55,713

 

 

 

 

Municipal bonds

 

 

12,941

 

 

 

 

 

 

12,941

 

 

 

 

Total available-for-sale investments

 

 

105,575

 

 

 

 

 

 

105,575

 

 

 

 

Total assets measured at fair value

 

$

107,627

 

 

$

2,052

 

 

$

105,575

 

 

$

 

Schedule of Available-for-sale Investments

As of June 30, 2022 and December 31, 2021, available-for-sale investments are detailed as follows (in thousands):

 

 

 

 

 

June 30, 2022

 

 

 

Contractual Maturity

 

Gross
Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Market Value

 

Available-for-sale investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

Within 1 year

 

$

26,864

 

 

$

 

 

$

(144

)

 

$

26,720

 

Corporate debt securities

 

1 to 2 years

 

 

45,082

 

 

 

 

 

 

(532

)

 

 

44,550

 

Municipal bonds

 

1 to 2 years

 

 

8,883

 

 

 

 

 

 

(83

)

 

 

8,800

 

 

 

 

 

$

80,829

 

 

$

 

 

$

(759

)

 

$

80,070

 

 

 

 

 

 

December 31, 2021

 

 

 

Contractual Maturity

 

Gross
Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Market Value

 

Available-for-sale investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

Within 1 year

 

$

36,956

 

 

$

 

 

$

(35

)

 

$

36,921

 

Corporate debt securities

 

1 to 2 years

 

 

55,859

 

 

 

 

 

 

(146

)

 

 

55,713

 

Municipal bonds

 

1 to 2 years

 

 

12,973

 

 

 

 

 

 

(32

)

 

 

12,941

 

 

 

 

 

$

105,788

 

 

$

 

 

$

(213

)

 

$

105,575