Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value on Recurring Basis by Level within Fair Value Hierarchy

The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

		June 30, 2024
	Valuation Hierarchy	Amortized Costs		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds	Level 1	$	18,556	$	—	$	—		$	18,556
Short-term investments:
U.S. Treasury securities	Level 1		90,329		2		(253	)		90,078
U.S. government-sponsored enterprises    debt securities	Level 2		13,377		4		(19	)		13,362
Corporate debt	Level 2		48,089		5		(37	)		48,057
Commercial paper	Level 2		5,495		—		(3	)		5,492
Total cash equivalents and    short-term investments		$	175,846	$	11	$	(312	)	$	175,545

		December 31, 2023
	Valuation Hierarchy	Amortized Costs		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds	Level 1	$	44,883	$	—	$	—		$	44,883
Short-term investments:
U.S. Treasury securities	Level 1		53,790		58		(32	)		53,816
U.S. government-sponsored enterprises    debt securities	Level 2		29,645		24		(38	)		29,631
Corporate debt	Level 2		33,214		56		—			33,270
Commercial paper	Level 2		18,097		5		(4	)		18,098
Total cash equivalents and    short-term investments		$	179,629	$	143	$	(74	)	$	179,698

Schedule of breakdown of the available-for-sale debt securities with unrealized losses Table Text Block

The following tables present the breakdown of the available-for-sale debt securities with unrealized losses as of June 30, 2024, and December 31, 2023 (in thousands):

	June 30, 2024
	Unrealized losses less than 12 months					Unrealized losses 12 months or greater					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury securities	$	78,734	$	(253	)	$	—	$	—		$	78,734	$	(253	)
U.S. government-sponsored enterprises    debt securities		7,017		(12	)		3,971		(7	)		10,988		(19	)
Corporate debt		34,919		(37	)		—		—			34,919		(37	)
Commercial paper		5,493		(3	)		—		—			5,493		(3	)
Total	$	126,163	$	(305	)	$	3,971	$	(7	)	$	130,134	$	(312	)

	December 31, 2023
	Unrealized losses less than 12 months					Unrealized losses 12 months or greater					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury securities	$	8,416	$	(16	)	$	17,925	$	(16	)	$	26,341	$	(32	)
U.S. government-sponsored enterprises    debt securities		18,757		(22	)		8,488		(16	)		27,245		(38	)
Corporate debt		11,291		(4	)		—		—			11,291		(4	)
Total	$	38,464	$	(42	)	$	26,413	$	(32	)	$	64,877	$	(74	)