Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table provides the assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such value at March 31, 2023 and December 31, 2022:

	March 31, 2023
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	12,098	$	12,098	$	—	$	—
Total cash equivalents at fair value		12,098		12,098		—		—
Short-term investments:
U.S. treasury securities		28,257		28,257		—		—
Commercial paper and corporate bonds		29,602		—		29,602		—
U.S. government agency bonds		4,440		—		4,440		—
Total short-term investments at fair value		62,299		28,257		34,042		—
Total assets at fair value	$	74,397	$	40,355	$	34,042	$	—

	December 31, 2022
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	12,253	$	12,253	$	—	$	—
Commercial paper		1,998		—		1,998		—
U.S. government agency bonds		1,991		—		1,991		—
Total cash equivalents at fair value		16,242		12,253		3,989		—
Short-term investments:
U.S. treasury securities		33,622		33,622		—		—
Commercial paper and corporate bonds		40,162		—		40,162		—
Total short-term investments at fair value		73,784		33,622		40,162		—
Total assets at fair value	$	90,026	$	45,875	$	44,151	$	—

Summary of Short-Term Investments

	March 31, 2023
	Fair Value		Cost Basis		Amounts Recognized in Accumulated Other Comprehensive Loss
					Unrealized Gains		Unrealized Losses
	(in thousands)
Available-for-sale securities:
U.S. treasury securities	$	28,257	$	28,265	$	10	$	(18	)
Commercial paper and corporate bonds		29,602		29,610		—		(8	)
U.S. government agency bonds		4,440		4,430		11		—
Total available-for-sale securities at fair value	$	62,299	$	62,305	$	21	$	(26	)

	December 31, 2022
	Fair Value		Cost Basis		Amounts Recognized in Accumulated Other Comprehensive Loss
					Unrealized Gains		Unrealized Losses
	(in thousands)
Available-for-sale securities:
U.S. treasury securities	$	33,622	$	33,676	$	—	$	(54	)
Commercial paper and corporate bonds		40,162		40,169		—		(7	)
Total available-for-sale securities at fair value	$	73,784	$	73,845	$	—	$	(61	)