Fair Value Measurements at
Reporting Date 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

Financial assets:

Money market funds

$

55,275

$

55,275

$

—

$

—

U.S. Treasury debt securities

119,232

119,232

—

—

Municipal securities

19,661

—

19,661

—

Corporate debt securities

188,643

—

188,643

—

Commercial paper

197,964

—

197,964

—

Total financial assets measured at fair value on a recurring basis

$

580,775

$

174,507

$

406,268

$

—

Financial liabilities:

Stock price appreciation milestones

$

9,928

$

—

$

—

$

9,928

Total financial liabilities measured at fair value on a recurring basis

$

9,928

$

—

$

—

$

9,928

As of December 31, 2021

Financial assets:

Money market funds

$

133,583

$

133,583

$

—

$

—

U.S. Treasury debt securities

80,444

80,444

—

—

Municipal securities

27,004

—

27,004

—

Corporate debt securities

251,267

—

251,267

—

Commercial paper

224,276

—

224,276

—

Total assets measured at fair value on a recurring basis

$

716,574

$

214,027

$

502,547

$

—

Financial liabilities:

Stock price appreciation milestones

$

24,168

$

—

$

—

$

24,168

Total financial liabilities measured at fair value on a recurring basis

$

24,168

$

—

$

—

$

24,168