Fair Value Measurements of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Summary of Financial Instruments

Summary of Financial Instruments

The following is a summary of financial instruments (in thousands):

	June 30, 2024
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Estimated Fair Values
Available-for-sale securities:
Certificates of deposit	$	1,924	$	—	$	(1	)	$	1,923
U.S.Treasury bills and notes		35,458	94			(25	)		35,527
Government agency bonds		518		—		(1	)		517
Corporate bonds		6,977		—		(18	)		6,959
Total available-for-sale securities	$	44,877	$	94	$	(45	)	$	44,926
Reported in:
Cash and cash equivalents								$	998
Short-term investments									43,928
Long-term investments									—
Total available-for-sale securities								$	44,926

	December 31, 2023
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Estimated Fair Values
Available-for-sale securities:
Certificates of deposit	$	3,633	$	1	$	—		$	3,634
U.S.Treasury bills and notes		37,624	76			—			37,700
Government agency bonds		2,600		—		(3	)		2,597
Corporate bonds		11,504		—		(51	)		11,453
Total available-for-sale securities	$	55,361	$	77	$	(54	)	$	55,384
Reported in:
Cash and cash equivalents								$	3,096
Short-term investments									51,788
Long-term investments									500
Total available-for-sale securities								$	55,384

Summary of Contractual Maturities of Available-for-sale Securities

The contractual maturities of available-for-sale securities are presented in the following table (in thousands):

	June 30, 2024				December 31, 2023
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	44,877	$	44,926	$	54,859	$	54,884
Due between one to two years		—		—		502		500
	$	44,877	$	44,926	$	55,361	$	55,384

Schedule of Financial Instruments Measured at Fair Value

Financial assets measured at fair value on a recurring basis were as follows (in thousands):

	Fair Value Measurement at Reporting Date Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
As of June 30, 2024
Financial assets - available-for-sale securities
Certificates of deposit	$	—	$	1,923	$	1,923
U.S.Treasury bills and notes		—		35,527		35,527
Governmental agency bonds		—		517		517
Corporate bonds		6,959		—		6,959
Total financial assets - available-for-sale securities	$	6,959	$	37,967	$	44,926
As of December 31, 2023
Financial assets - available-for-sale securities
Certificates of deposit	$	—	$	3,634	$	3,634
U.S.Treasury bills and notes		2,198		35,502		37,700
Governmental agency bonds		600		1,997		2,597
Corporate bonds		10,953		500		11,453
Total financial assets - available-for-sale securities	$	13,751	$	41,633	$	55,384