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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis:

 

 

 

December 31, 2022

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market fund

 

$

32,641

 

 

$

 

 

$

 

 

$

32,641

 

Totals

 

$

32,641

 

 

$

 

 

$

 

 

$

32,641

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government treasury securities

 

$

99,036

 

 

$

 

 

$

 

 

$

99,036

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and agency bonds

 

 

 

 

 

28,667

 

 

 

 

 

 

28,667

 

Totals

 

$

99,036

 

 

$

28,667

 

 

$

 

 

$

127,703

 

 

 

 

December 31, 2021

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market fund

 

$

141,378

 

 

$

 

 

$

 

 

$

141,378

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

 

 

 

7,998

 

 

 

 

 

 

7,998

 

Corporate and agency bonds

 

 

 

 

 

753

 

 

 

 

 

 

753

 

Totals

 

$

141,378

 

 

$

8,751

 

 

$

 

 

$

150,129

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government treasury securities

 

$

25,072

 

 

$

 

 

$

 

 

$

25,072

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

 

 

 

11,569

 

 

$

 

 

 

11,569

 

Corporate and agency bonds

 

 

 

 

 

9,818

 

 

 

 

 

 

9,818

 

Totals

 

$

25,072

 

 

$

21,387

 

 

$

 

 

$

46,459