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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Summary of Financial Assets Measured at Fair Value on Recurring Basis and Level of Fair Value Hierarchy Classification

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the fair value hierarchy classification of such fair values as of September 30, 2022 and December 31, 2021 (in thousands):

 

 

 

Fair Value Measurements at
September 30, 2022

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

38,038

 

 

$

38,038

 

 

$

—

 

 

$

—

 

U.S. Treasury securities

 

 

23,982

 

 

 

—

 

 

 

23,982

 

 

 

—

 

Commercial paper

 

 

28,918

 

 

 

—

 

 

 

28,918

 

 

 

—

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

17,223

 

 

 

—

 

 

 

17,223

 

 

 

—

 

Commercial paper

 

 

41,041

 

 

 

—

 

 

 

41,041

 

 

 

—

 

Corporate bonds

 

 

72,587

 

 

 

—

 

 

 

72,587

 

 

 

—

 

Total

 

$

221,789

 

 

$

38,038

 

 

$

183,751

 

 

$

—

 

 

 

 

Fair Value Measurements at
December 31, 2021

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

35,412

 

 

$

35,412

 

 

$

—

 

 

$

—

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

81,382

 

 

 

—

 

 

 

81,382

 

 

 

—

 

Corporate bonds

 

 

101,368

 

 

 

—

 

 

 

101,368

 

 

 

—

 

Total

 

$

218,162

 

 

$

35,412

 

 

$

182,750

 

 

$

—