Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The Company’s fair value hierarchy for its financial assets that are measured at fair value on a recurring basis as of March 31, 2024, is as follows (in thousands):

	Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents:
Money market funds	$	40,502	$	—	$	—	$	40,502
Short-term investments:
U.S. Treasury bills	70,355		—		—		70,355
Corporate bonds	—		24,498		—		24,498
Government and government agency	—		2,788		—		2,788
Asset-backed bonds	—		714		—		714
Restricted cash:
Money market funds	856		—		—		856
Total assets	$	111,713	$	28,000	$	—	$	139,713

The Company’s fair value hierarchy for its financial assets that are measured at fair value on a recurring basis as of December 31, 2023, is as follows (in thousands):

	Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents:
Money market funds	$	42,492	$	—	$	—	$	42,492
Short-term investments:
U.S. Treasury bills	63,833		—		—		63,833
Corporate bonds	—		39,169		—		39,169
Government and government agency	—		20,610		—		20,610
Asset-backed bonds	—		706		—		706
Restricted cash:
Money market funds	856		—		—		856
Total assets	$	107,181	$	60,485	$	—	$	167,666