SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of financial assets measured at fair value on a recurring basis by level within the fair value hierarchy

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

	As of June 30, 2022
	Fair Value	Amortized		Unrealized		Unrealized		Fair Market
	Hierarchy	Cost Basis		Gains		Losses		Value
Cash equivalents:
Money market funds	Level 1	$	18,240	$	—	$	—	$	18,240
Marketable securities, available for sale:
Asset-backed securities	Level 2		23,096		—		(140)		22,956
Corporate debt securities	Level 2		83,823		—		(866)		82,957
Commercial paper	Level 2		43,881		—		—		43,881
U.S. government treasury and agency securities	Level 2		59,357		—		(1,001)		58,356
Supranational and sovereign government securities	Level 2		22,233		—		(329)		21,904
Total financial assets		$	250,630	$	—	$	(2,336)	$	248,294

	As of December 31, 2021
	Fair Value	Amortized		Unrealized		Unrealized		Fair Market
	Hierarchy	Cost Basis		Gains		Losses		Value
Cash equivalents:
Money market funds	Level 1	$	15,466	$	—	$	—	$	15,466
Marketable securities, available for sale:
Asset-backed securities	Level 2		36,681		—		(42)		36,639
Corporate debt securities	Level 2		88,084		—		(160)		87,924
Commercial paper	Level 2		58,970		—		—		58,970
U.S. government treasury and agency securities	Level 2		59,596		—		(222)		59,374
Supranational and sovereign government securities	Level 2		22,406		—		(90)		22,316
Total financial assets		$	281,203	$	—	$	(514)	$	280,689