Fair value measurements (Tables)

3 Months Ended

Mar. 31, 2023

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

The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of March 31, 2023 (in thousands):


	Fair Value		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	49,223	$	49,223	$	—	$	—


Marketable securities:
Corporate debt securities	194,619		—		194,619		—
U.S. government debt securities	48,081		—		48,081		—
U.S. Treasury securities	12,855		—		12,855		—
Total cash equivalents and marketable securities	$	304,778	$	49,223	$	255,555	$	—

There have been no transfers between fair value levels during the three months ended March 31, 2023.

The following table sets forth the fair value of the Company’s financial assets by level within the fair value hierarchy at

December 31, 2022 (in thousands):


	Fair Value		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	28,705	$	28,705	$	—	$	—

U.S. Treasury securities	799		—		799		—
Marketable securities:
Corporate debt securities	234,327		—		234,327		—
U.S. government debt securities	47,641		—		47,641		—
U.S. Treasury securities	25,393		—		25,393		—
Total cash equivalents and marketable securities	$	336,865	$	28,705	$	308,160	$	—