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Fair Value Measurement (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Company's Valuation Hierarchy of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s valuation hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

At June 30, 2024:

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

25,053

 

 

$

—

 

 

$

—

 

U.S. government agency securities and treasuries

 

 

207,267

 

 

 

—

 

 

 

—

 

Total

 

$

232,320

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2023:

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

37,590

 

 

$

—

 

 

$

—

 

U.S. government agency securities and treasuries

 

 

167,730

 

 

 

—

 

 

 

—

 

Total

 

$

205,320

 

 

$

—

 

 

$

—