Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

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

The following tables set forth the fair value of financial assets as of September 30, 2021 and December 31, 2020 that were measured at fair value on a recurring basis (in thousands):

	September 30, 2021
	Level 1		Level 2		Level 3		Total
Financial assets
Money market funds	$	113,486	$	—	$	—	$	113,486
U.S. government debt securities		—		482,044		—		482,044
Corporate bonds		—		27,974		—		27,974
Total financial assets	$	113,486	$	510,018	$	—	$	623,504

	December 31, 2020
	Level 1		Level 2		Level 3		Total
Financial assets
Money market funds	$	103,283	$	—	$	—	$	103,283
U.S. government debt securities		—		671,777		—		671,777
Corporate bonds		—		11,581		—		11,581
Total financial assets	$	103,283	$	683,358	$	—	$	786,641