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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Summary of Cash Equivalents and Available-for-sale Securities Carrying Amounts and Fair Values

The Company’s financial assets consist of money market funds, U.S. government debt securities and corporate debt securities. The following tables show the Company’s cash equivalents and available-for-sale securities’ carrying amounts and fair values as of June 30, 2022, and December 31, 2021:

 

 

 

As of June 30, 2022

 

 

 

Carrying
Amount

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair
Value

 

 

Quoted
priced in
active
markets
(Level 1)

 

 

Significant
other
observable
inputs
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

35,780

 

 

$

 

 

$

 

 

$

35,780

 

 

$

35,780

 

 

$

 

 

$

 

Corporate securities

 

 

187,136

 

 

 

5

 

 

 

(530

)

 

 

186,611

 

 

 

 

 

 

186,611

 

 

 

 

Government securities

 

 

52,224

 

 

 

2

 

 

 

(500

)

 

 

51,726

 

 

 

40,554

 

 

 

11,172

 

 

 

 

Total financial assets

 

$

275,140

 

 

$

7

 

 

$

(1,030

)

 

$

274,117

 

 

$

76,334

 

 

$

197,783

 

 

$

 

 

 

 

 

As of December 31, 2021

 

 

 

Carrying
Amount

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair
Value

 

 

Quoted
Priced in
Active
Markets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

40,960

 

 

$

 

 

$

 

 

$

40,960

 

 

$

40,960

 

 

$

 

 

$

 

Corporate securities

 

 

227,378

 

 

 

3

 

 

 

(19

)

 

 

227,362

 

 

 

 

 

 

227,362

 

 

 

 

Government securities

 

 

42,307

 

 

 

 

 

 

(62

)

 

 

42,245

 

 

 

 

 

 

42,245

 

 

 

 

Total financial assets

 

$

310,645

 

 

$

3

 

 

$

(81

)

 

$

310,567

 

 

$

40,960

 

 

$

269,607

 

 

$