Fair value measurements (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2023 (in thousands):


	Fair Value		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	43,118	$	43,118	$	—	$	—
Corporate debt securities	9,927		—		9,927		—
U.S. Treasury securities	7,676		—		7,676		—
Marketable securities:
Corporate debt securities	126,996		—		126,996		—
U.S. government debt securities	48,548		—		48,548		—
U.S. Treasury securities	9,911		—		9,911		—
Total cash equivalents and marketable securities	$	246,176	$	43,118	$	203,058	$	—

There have been no transfers between fair value levels during the nine months ended September 30, 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	$	—