Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Summary of Money Market Funds, U.S. Government Agency Securities and Corporate Debt Securities by Significant Investment Category

The following tables show the Company’s Money Market Funds, U.S. Treasury securities, U.S. government agency securities and corporate debt securities by significant investment category as of March 31, 2023 and December 31, 2022 (in thousands):

	As of March 31, 2023
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Market Value
Level 1:
Money Market Funds	$	51,187	$	—	$	—	$	51,187
Level 2:
U.S. Treasury securities included in cash and cash equivalents and short-term investments	14,446		9		(1)		14,454
U.S. government agency securities included in cash and cash equivalents and short-term investments	52,388		17		(101)		52,304
Corporate debt securities included in cash and cash equivalents and short-term investments	441,141		32		(1,288)		439,885
Total financial assets	$	559,162	$	58	$	(1,391)	$	557,831

	As of December 31, 2022
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Market Value
Level 1:
Money Market Funds	$	28,312	$	—	$	—	$	28,312
Level 2:
U.S. Treasury securities included in cash and cash equivalents and short-term investments	4,446		—		(5)		4,441
U.S. government agency securities included in short-term investments	28,746		—		(111)		28,635
Corporate debt securities included in cash and cash equivalents and short-term investments	266,267		45		(1,887)		264,425
Total financial assets	$	327,771	$	45	$	(2,003)	$	325,813