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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Summary of Financial Assets Measured at Fair Value on Recurring Basis

The following table summarizes the Company's financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

 

 

 

 

June 30, 2022

 

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market funds

 

$

44,320

 

 

$

44,320

 

 

$

 

 

$

 

 

Total cash equivalents

 

 

44,320

 

 

 

44,320

 

 

 

 

 

 

 

Corporate bonds

 

 

14,471

 

 

 

14,471

 

 

 

 

 

 

 

U.S. treasury securities

 

 

31,614

 

 

 

31,614

 

 

 

 

 

 

 

 

Total short-term investments

 

 

46,085

 

 

 

46,085

 

 

 

 

 

 

 

U.S. treasury securities

 

 

5,805

 

 

 

5,805

 

 

 

 

 

 

 

 

Total long-term investments

 

 

5,805

 

 

 

5,805

 

 

 

 

 

 

 

Total cash equivalents and investments

 

$

96,210

 

 

$

96,210

 

 

$

 

 

$

 

 

 

 

December 31, 2021

 

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market funds

 

$

38,067

 

 

$

38,067

 

 

$

 

 

$

 

 

Total cash equivalents

 

 

38,067

 

 

 

38,067

 

 

 

 

 

 

 

Commercial paper

 

 

33,973

 

 

 

 

 

 

33,973

 

 

 

 

Corporate bonds

 

 

6,262

 

 

 

6,262

 

 

 

 

 

 

 

U.S. treasury securities

 

 

5,986

 

 

 

5,986

 

 

 

 

 

 

 

 

Total short-term investments

 

 

46,221

 

 

 

12,248

 

 

 

33,973

 

 

 

 

Corporate bonds

 

 

8,436

 

 

 

8,436

 

 

 

 

 

 

 

U.S. treasury securities

 

 

24,023

 

 

 

24,023

 

 

 

 

 

 

 

 

Total long-term investments

 

 

32,459

 

 

 

32,459

 

 

 

 

 

 

 

Total cash equivalents and investments

 

$

116,747

 

 

$

82,774

 

 

$

33,973

 

 

$

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