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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Company's Financial Assets

The following table sets forth the fair value of the Company’s financial assets by level within the fair value hierarchy (in thousands):

 

 

December 31, 2022

 

 

Level 1

 

Level 2

 

Level 3

 

Money market fund (cash equivalent)

$

57,697

 

$

—

 

$

—

 

Money market fund (long-term restricted cash)

 

2,501

 

 

 

—

 

Marketable securities:

 

 

 

 

 

 

Commercial paper

—

 

 

129,810

 

—

 

Corporate debt

—

 

 

11,866

 

—

 

Government agency

—

 

 

48,980

 

—

 

Total assets measured at fair value

$

60,198

 

$

190,656

 

$

—

 

 

 

December 31, 2021

 

 

Level 1

 

Level 2

 

Level 3

 

Money market fund (cash equivalent)

$

26,472

 

$

—

 

$

—

 

Money market fund (long-term restricted cash)

 

199

 

—

 

—

 

Marketable securities:(1)

 

 

 

 

 

 

Commercial paper

—

 

 

43,969

 

—

 

Corporate debt

—

 

 

17,072

 

—

 

Government agency

—

 

 

5,053

 

—

 

Asset-backed securities

—

 

 

7,690

 

—

 

Total assets measured at fair value

$

26,671

 

$

73,784

 

$

—

 

 

(1)
These items have been reclassified to conform to current period presentation.