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Fair Value Measurement (Tables)
 6 Months Ended
Jun. 30, 2022
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):

 

 

 

June 30, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

10,755

 

 

$

—

 

 

$

—

 

 

$

10,755

 

U.S. treasury securities

 

 

999

 

 

 

—

 

 

 

—

 

 

 

999

 

Commercial paper

 

 

—

 

 

 

63,817

 

 

 

—

 

 

 

63,817

 

Corporate bonds

 

 

—

 

 

 

3,981

 

 

 

—

 

 

 

3,981

 

Total financial assets

 

$

11,754

 

 

$

67,798

 

 

$

—

 

 

$

79,552

 

 

 

 

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