Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis

The following table sets forth the fair value of our financial assets and liabilities that are measured or disclosed on a recurring basis by level within the fair value hierarchy (in thousands):


	June 30, 2023
	Total Fair Value		Level 1		Level 2		Level 3
Assets:
Money market funds	$	28,658	$	28,658	$	—	$	—
Commercial paper	61,605		—		61,605		—
U.S. government-sponsored agency bonds	28,021		—		28,021		—

Asset-backed securities	7,895		—		7,895		—

Total	$	126,179	$	28,658	$	97,521	$	—

Liabilities:
Derivative liabilities for exit fees	$	1,737	$	—	$	—	$	1,737
Total	$	1,737	$	—	$	—	$	1,737


	December 31, 2022
	Total Fair Value		Level 1		Level 2		Level 3
Assets:
Money market funds	$	84,313	$	84,313	$	—	$	—
Commercial paper	25,291		—		25,291		—
Corporate bonds	999		—		999		—
U.S. government-sponsored agency bonds	1,479		—		1,479		—


Total	$	112,082	$	84,313	$	27,769	$	—

Liabilities:
Derivative liability for exit fee	$	1,656	$	—	$	—	$	1,656
Total	$	1,656	$	—	$	—	$	1,656