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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets Measured on a Recurring Basis
The following table summarizes the fair value of our financial assets that were measured on a recurring basis as of March 31, 2023 and December 31, 2022. There have been no transfers between fair value measurement levels during the three months ended March 31, 2023.
Fair Value Measurements at
March 31, 2023 Using
Quoted Prices in
Active Markets
for Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
(in thousands)
Cash equivalents:
Money market funds$73,771 $— $— $73,771 
Total cash equivalents73,771 — — 73,771 
Short-term investments:
U.S. Treasury securities— 3,001 — 3,001 
Corporate bonds8,5528,552 
Total short-term investments— 11,553 — 11,553 
Total assets$73,771 $11,553 $— $85,324 
Fair Value Measurements at
December 31, 2022 Using
Quoted Prices in
Active Markets
for Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
(in thousands)
Cash equivalents:
Money market funds$48,833 $— $— $48,833 
Total cash equivalents48,833 — — 48,833 
Short-term investments:
US Treasury bonds— 5,970 — 5,970 
Corporate bonds— 19,782 — 19,782 
Commercial paper— 798 — 798 
Asset backed securities— 564 — 564 
Total short-term investments— 27,114 — 27,114 
Total assets$48,833 $27,114 $— $75,947