Fair Value Measurements of Financial Assets

6 Months Ended

Jun. 30, 2023

Fair Value Measurements of Financial Assets

Fair Value Measurements of Financial Assets

3. Fair Value Measurements of Financial Assets

The Company’s financial assets subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows:

	As of June 30, 2023
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash and Cash Equivalents:
Money market funds	$	9,670	$	—	$	—	$	9,670
	$	9,670	$	—	$	—	$	9,670
Marketable Securities
Corporate debt securities	$	—	$	1,598	$	—	$	1,598
Total	$	—	$	1,598	$	—	$	1,598

	As of December 31, 2022
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash and Cash Equivalents:
Money market funds	$	3,298	$	—	$	—	$	3,298
	$	3,298	$	—	$	—	$	3,298
Marketable Securities
Corporate debt securities	$	—	$	15,460	$	—	$	15,460
Commercial paper		—		14,999		—		14,999
U.S. Government debt securities		—		13,904		—		13,904
Total	$	—	$	44,363	$	—	$	44,363

There were no transfers into or out of Level 3 during the three and six months ended June 30, 2023 or 2022.