Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2023

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 (in thousands):

			Fair Value Measurements at March 31, 2023 Using:
Assets:	Total		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	14,554	$	14,554	$	—	$	—
Short-term investments:
U.S. Treasury securities		12,952		12,952		—		—
U.S. government-sponsored enterprise securities		79,771		—		79,771		—
Long-term investments:
U.S. Treasury securities		9,720		9,720		—		—
U.S. government-sponsored enterprise securities		29,555		—		29,555		—
Total assets	$	146,552	$	37,226	$	109,326	$	—

			Fair Value Measurements at December 31, 2022 Using:
Assets:	Total		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	24,082	$	24,082	$	—	$	—
Short-term investments:
U.S. Treasury securities		32,143		32,143		—		—
U.S. government-sponsored enterprise securities		66,089		—		66,089		—
Long-term investments:
U.S. Treasury securities		7,238		7,238		—		—
U.S. government-sponsored enterprise securities		34,643		—		34,643		—
Total assets	$	164,195	$	63,463	$	100,732	$	—