Fair value of financial instruments (Tables)

9 Months Ended

Sep. 30, 2023

Fair value of financial instruments

Schedule of fair value measurements

Recurring Fair Value Measurements

The following tables present the Company’s fair value hierarchy for its financial assets that are measured at fair value on a recurring basis (in thousands):

As of September 30, 2023	Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Financial assets:
Cash equivalents: (1)
Money market funds	$	153,306	$	153,306	$	—	$	—
Commercial paper		19,006		—		19,006		—
U.S. Treasuries		6,271		—		6,271		—
Total cash equivalents:		178,583		153,306		25,277		—
Marketable securities: (2)
Commercial paper		56,874		—		56,874		—
U.S. Treasuries		9,923		—		9,923		—
U.S. Government agency bonds		24,065		—		24,065		—
Corporate bonds		35,587		—		35,587		—
Total marketable securities		126,449		—		126,449		—
Total financial assets	$	305,032	$	153,306	$	151,726	$	—

As of December 31, 2022	Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Financial assets:
Money market funds (1)	$	306,097	$	306,097	$	—	$	—
Total financial assets	$	306,097	$	306,097	$	—	$	—