Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets Measured on Recurring Basis

The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy as of September 30, 2024 (in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	36,874	$	—	$	—	$	36,874
Short-term investments
US government and agency securities	33,418		—				33,418
Commercial paper	—		13,637		—		13,637
Total	$	70,292	$	13,637	$	—	$	83,929

The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2023 (in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	35,375	$	—	$	—	$	35,375
Commercial paper	—		—		—		—
Short-term investments
US government and agency securities	25,083		11,526		—		36,609
Commercial paper	—		21,479		—		21,479
Total	$	60,458	$	33,005	$	—	$	93,463

Schedule of Debt Securities, Available-for-Sale

The following tables summarize the Company's short-term investments on the consolidated balance sheets as of September 30, 2024 and December 31, 2023 (in thousands):

	September 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term investments
US government and agency securities	$	33,376	$	42	$	—	$	33,418
Commercial paper	13,618		20		(1)		13,637
Total	$	46,994	$	62	$	(1)	$	47,055

	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term investments
US government and agency securities	$	36,568	$	48	$	(7)	$	36,609
Commercial paper	21,477		11		(9)		21,479
Total	$	58,045	$	59	$	(16)	$	58,088

Schedule of Cash and Cash Equivalents

The following tables summarize the Company’s cash and cash equivalents on the consolidated balance sheets as of September 30, 2024 and December 31, 2023 (in thousands):

	September 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash	$	14,229	$	—	$	—	$	14,229
Cash equivalents
Money market funds	36,874		—		—		36,874
Total	$	51,103	$	—	$	—	$	51,103

	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash	$	15,381	$	—	$	—	$	15,381
Cash equivalents
Money market funds	35,375		—		—		35,375
Total	$	50,756	$	—	$	—	$	50,756