SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 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 September 30, 2022
	Fair Value	Amortized		Unrealized		Unrealized		Fair Market
	Hierarchy	Cost Basis		Gains		Losses		Value
Cash equivalents:
Money market funds	Level 1	$	109,647	$	—	$	—	$	109,647
Marketable securities, available for sale:
Asset-backed securities	Level 2		12,778		—		(65)		12,713
Corporate debt securities	Level 2		66,233		—		(898)		65,335
Commercial paper	Level 2		79,191		—		—		79,191
U.S. government treasury and agency securities	Level 2		54,228		—		(933)		53,295
Supranational and sovereign government securities	Level 2		44,824		10		(293)		44,541
Total financial assets		$	366,901	$	10	$	(2,189)	$	364,722

	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