Fair Value Measurements of Financial Assets

6 Months Ended

Jun. 30, 2024

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 (in thousands):

	As of June 30, 2024
	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market funds	$	39,499	$	—	$	—	$	39,499
U.S. Government debt securities		—		2,370		—		2,370
Corporate debt securities		—		995		—		995
Total	$	39,499	$	3,365	$	—	$	42,864
Marketable Securities:
Corporate debt securities	$	—	$	22,714	$	—	$	22,714
Commercial paper		—		3,337		—		3,337
U.S. Government debt securities		—		25,351		—		25,351
Total	$	—	$	51,402	$	—	$	51,402

	As of December 31, 2023
	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market funds	$	45,287	$	—	$	—	$	45,287
Total	$	45,287	$	—	$	—	$	45,287
Marketable Securities:
Corporate debt securities	$	—	$	4,571	$	—	$	4,571
Commercial paper		—		12,442		—		12,442
U.S. Government debt securities		—		16,839		—		16,839
Total	$	—	$	33,852	$	—	$	33,852

There were no transfers into or out of Level 3 during the six months ended June 30, 2024 and 2023.