Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Summary of Fair Values of Financial Instruments

The fair values of the Company’s financial instruments are presented below (in thousands):

			Fair Value Measurements at March 31, 2022
	Total		Level 1		Level 2		Level 3
Financial assets carried at fair value:
Cash equivalents:
Government money market funds	$	6,160	$	6,160	$	—	$	—
Short-term investments
Certificates of deposit		504		—		504		—
Commercial paper, available-for-sale		35,450		—		35,450		—
Corporate debt securities, available-for-sale		136,491		—		136,491		—
Total financial assets	$	178,605	$	6,160	$	172,445	$	—

			Fair Value Measurements at December 31, 2021
	Total		Level 1		Level 2		Level 3
Financial assets carried at fair value:
Cash equivalents:	$	24,612		10,498		14,114	0
Short-term investments
Certificates of deposit		504		—		504		—
Commercial paper, available for sale		32,032		—		32,032		—
Corporate debt securities, available-for-sale		143,196		—		143,196		—
Total financial assets	$	200,344	$	10,498	$	189,846	$	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details