Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value on Recurring Basis

The following tables summarize the Company’s financial assets measured at fair value on a recurring basis and their respective input levels based on the fair value hierarchy (in thousands):

			Fair value measurements as of June 30, 2022 using
			Quoted prices in		Significant		Significant
			active markets		other		unobservable
	June 30,		for identical		observable		inputs
	2022		assets (level 1)		inputs (level 2)		(level 3)
Assets:
Money market funds(1)	$	292,924	$	292,924	$	—	$	—
US treasury securities(2)		45,972		45,972		—		—
Commercial paper(2)		23,422		—		23,422		—
Corporate debt securities(2)		2,639		—		2,639		—
Yankee debt security(2)		799		—		799		—
Supranational debt security(2)		637		—		637		—
US treasury securities(3)		19,313		19,313		—		—
Total fair value of assets	$	385,706	$	358,209	$	27,497	$	—

(1)Included as cash and cash equivalents on the condensed consolidated balance sheets.

(2)Included as short-term marketable securities on the condensed consolidated balance sheets.

(3)Included as long-term marketable securities on the condensed consolidated balance sheets.

			Fair value measurements as of December 31, 2021 using
			Quoted prices in		Significant		Significant
			active markets		other		unobservable
	December 31,		for identical		observable		inputs
	2021		assets (level 1)		inputs (level 2)		(level 3)
Assets:
Money market funds(1)	$	351,625	$	351,625	$	—	$	—
US treasury securities(2)		18,097		18,097		—		—
Corporate debt securities(2)		2,822		—		2,822		—
Commercial paper(2)		31,566		—		31,566		—
Supranational debt securities(2)		1,503		—		1,503		—
US treasury securities(3)		44,770		44,770		—		—
Total fair value of assets	$	450,383	$	414,492	$	35,891	$	—

(1)Included as cash and cash equivalents on the condensed consolidated balance sheets.

(2)Included as short-term marketable securities on the condensed consolidated balance sheets.

(3)Included as long-term marketable securities on the condensed consolidated balance sheets.