Fair Value Measurements

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

3. Fair Value Measurements

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of March 31, 2022 and December 31, 2021 (in thousands):

	March 31, 2022
	Level 1		Level 2		Level 3		Aggregate Fair Value
Financial Assets
Cash and cash equivalents:
Money market mutual funds	$	87,969	$	—	$	—	$	87,969
U.S. Treasury securities		26,101		—		—		26,101
Corporate debt securities and commercial paper		—		6,491		—		6,491
Total included in cash and cash equivalents		114,070		6,491		—		120,561
Investments:
U.S. Treasury securities		95,386		—		—		95,386
U.S. Government agencies		—		5,997		—		5,997
Corporate debt securities and commercial paper		—		50,773		—		50,773
Total included in short-term investments		95,386		56,770		—		152,156
Total assets	$	209,456	$	63,261	$	—	$	272,717
	December 31, 2021
	Level 1		Level 2		Level 3		Aggregate Fair Value
Financial Assets
Cash and cash equivalents:
Money market mutual funds	$	48,595	$	—	$	—	$	48,595
Total included in cash and cash equivalents		48,595		—		—		48,595
Investments:
U.S. Treasury securities		44,322		—		—		44,322
Corporate debt securities and commercial paper		—		39,026		—		39,026
Total included in short-term investments		44,322		39,026		—		83,348
U.S. Treasury securities included in   long-term investments		3,983		—		—		3,983
Total assets	$	96,900	$	39,026	$	—	$	135,926

There were no transfers between Levels 1, 2 or 3 for the periods presented.