Fair Value Measurements of Financial Assets

9 Months Ended

Sep. 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 September 30, 2024
	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market funds	$	34,070	$	—	$	—	$	34,070
Total	$	34,070	$	—	$	—	$	34,070
Marketable Securities:
Corporate debt securities	$	—	$	24,312	$	—	$	24,312
Commercial paper		—		1,976		—		1,976
U.S. Government debt securities		—		28,580		—		28,580
Total	$	—	$	54,868	$	—	$	54,868

	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 nine months ended September 30, 2024 and 2023.