Fair Value Measurements and Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets Measured on Recurring Basis

The following tables set forth the fair value of the Company’s financial assets that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands).

		December 31, 2021
		Level 1		Level 2		Level 3		Total
Assets:	Classification:
Money market funds	Cash and cash equivalents	$	232,813	$	—	$	—	$	232,813
U.S. Treasury securities	Investments	—		260,447		—		260,447
Total assets measured at fair value		$	232,813	$	260,447	$	—	$	493,260

		December 31, 2020
		Level 1		Level 2		Level 3		Total
Assets:	Classification:
Money market funds	Cash and cash equivalents	$	333,585	$	—	$	—	$	333,585
U.S. Treasury securities	Investments	—		98,278		—		98,278
Total assets measured at fair value		$	333,585	$	98,278	$	—	$	431,863

Schedule of Debt Securities, Available-for-sale, Unrealized Gain

The following is a summary of the Company’s cash equivalents and investments and the gross unrealized holding gains and losses (in thousands):

	December 31, 2021
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
Assets:
Money market funds	$	232,813	$	—	$	—	$	232,813
U.S. Treasury securities	260,983		—		(536)		260,447
Total	$	493,796	$	—	$	(536)	$	493,260

	December 31, 2020
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
Assets:
Money market funds	$	333,585	$	—	$	—	$	333,585
U.S. Treasury securities	98,223		57		(2)		98,278
Total	$	431,808	$	57	$	(2)	$	431,863