Fair Value of Financial Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value of Financial Assets and Liabilities

Schedule of financial assets and liabilities measured at fair value on a recurring basis

	Fair Value Measurements as of
	June 30, 2024 using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Commercial Paper	$	—	$	51,230	$	—	$	51,230
Money market funds	$	98,254	$	—	$	—	$	98,254
Marketable securities:
Corporate debt securities and commercial paper		—		157,461		—		157,461
Total	$	98,254	$	208,691	$	—	$	306,945
Liabilities:
Derivative liability	$	—	$	—	$	360	$	360
Total	$	—	$	—	$	360	$	360

	Fair Value Measurements as of
	December 31, 2023 using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Commercial paper	$	—	$	—	$	—	$	—
Money market funds		40,868		4,979		—		45,847
Marketable securities:
Corporate debt securities and commercial paper		—		215,765		—		215,765
Total	$	40,868	$	220,744	$	—	$	261,612
Liabilities:
Derivative liability	$	—	$	—	$	1,150	$	1,150
Total	$	—	$	—	$	1,150	$	1,150

Schedule of changes in the estimated fair value of Level 3 securities

	Six months ended
	June 30,
	2024		2023
Beginning aggregate estimated fair value of Level 3 liabilities	$	1,150	$	1,340
Change in fair value of embedded derivative		(790)		(20)
Fair value of forward contract - Series A Convertible Preferred Stock		8,900		—
Settlement of forward contract		(8,900)		—
Ending aggregate estimated fair value of Level 3 liabilities	$	360	$	1,320

Schedule of marketable securities

	June 30, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
Assets
Corporate debt securities and commercial paper (due within 1 year)	$	157,565	$	10	$	(115)	$	157,460
	$	157,565	$	10	$	(115)	$	157,460

	December 31, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
Assets
Corporate debt securities and commercial paper (due within 1 year)	$	215,490	$	282	$	(7)	$	215,765
	$	215,490	$	282	$	(7)	$	215,765