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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values:

 

 

Fair Value Measurements as of
September 30, 2023

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

131,656

 

 

$

 

 

$

 

 

$

131,656

 

Commercial paper

 

 

 

 

 

5,983

 

 

 

 

 

 

5,983

 

Marketable Securities

 

 

 

 

 

 

 

 

 

 

 

 

US Treasury obligations

 

 

 

 

 

149,625

 

 

 

 

 

 

149,625

 

US Government agency securities

 

 

 

 

 

171,594

 

 

 

 

 

 

171,594

 

Commercial paper

 

 

 

 

 

84,281

 

 

 

 

 

 

84,281

 

Corporate bonds

 

 

 

 

 

51,740

 

 

 

 

 

 

51,740

 

Total

 

$

131,656

 

 

$

463,223

 

 

$

 

 

$

594,879

 

 

 

 

Fair Value Measurements as of
December 31, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

167,584

 

 

$

 

 

$

 

 

$

167,584

 

Marketable Securities

 

 

 

 

 

 

 

 

 

 

 

 

US Treasury obligations

 

 

 

 

 

59,118

 

 

 

 

 

 

59,118

 

US Government agency securities

 

 

 

 

 

14,941

 

 

 

 

 

 

14,941

 

Commercial paper

 

 

 

 

 

310,433

 

 

 

 

 

 

310,433

 

Corporate bonds

 

 

 

 

 

61,249

 

 

 

 

 

 

61,249

 

Asset-backed securities

 

 

 

 

 

12,508

 

 

 

 

 

 

12,508

 

Total

 

$

167,584

 

 

$

458,249

 

 

$

 

 

$

625,833