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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Summary of Financial Assets Measured at Fair Value on a Recurring Basis

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis and classified under the appropriate level of the fair value hierarchy as described above (in thousands):

 

 

 

June 30, 2022

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury money market funds

 

$

92,372

 

 

$

92,372

 

 

$

 

 

$

 

U.S. Treasury securities

 

 

133,538

 

 

 

133,538

 

 

 

 

 

 

 

Commercial paper

 

 

77,206

 

 

 

 

 

 

77,206

 

 

 

 

U.S. agency bonds

 

 

1,199

 

 

 

 

 

 

1,199

 

 

 

 

Total

 

$

304,315

 

 

$

225,910

 

 

$

78,405

 

 

$

 

 

 

 

December 31, 2021

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury money market funds

 

$

60,375

 

 

$

60,375

 

 

$

 

 

$

 

U.S. Treasury securities

 

 

82,106

 

 

 

82,106

 

 

 

 

 

 

 

Commercial paper

 

 

46,687

 

 

 

 

 

 

46,687

 

 

 

 

Corporate debt securities

 

 

15,481

 

 

 

 

 

 

15,481

 

 

 

 

U.S. agency bonds

 

 

1,199

 

 

 

 

 

 

1,199

 

 

 

 

Total

 

$

205,848

 

 

$

142,481

 

 

$

63,367

 

 

$