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Fair Value Measurement (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis The following tables sets forth the fair value of the Company’s financial assets and liabilities at fair value on a recurring basis based on the three-tier fair value hierarchy (in thousands):

 

 

 

December 31, 2021

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

8,888

 

 

$

—

 

 

$

—

 

 

$

8,888

 

Commercial paper

 

 

—

 

 

 

65,412

 

 

 

—

 

 

 

65,412

 

Corporate bonds

 

 

—

 

 

 

12,574

 

 

 

—

 

 

 

12,574

 

Total financial assets

 

$

8,888

 

 

$

77,986

 

 

$

—

 

 

$

86,874

 

 

 

 

December 31, 2020

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

6,700

 

 

$

—

 

 

$

—

 

 

$

6,700

 

U.S. treasury securities

 

 

—

 

 

 

57,181

 

 

 

—

 

 

 

57,181

 

U.S. government agency securities

 

 

—

 

 

 

66,893

 

 

 

—

 

 

 

66,893

 

Corporate bonds

 

 

—

 

 

 

3,001

 

 

 

—

 

 

 

3,001

 

Total financial assets

 

$

6,700

 

 

$

127,075

 

 

$

—

 

 

$

133,775