Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Available for Sale Investments Measured at Fair Value on Recurring Basis

The following table presents the Company's investments, which consist of cash equivalents and investments classified as available-for-sale investments, that are measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 (in thousands):

	June 30, 2022
	Fair Value Hierarchy Level	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Money market funds	Level 1	$	55,205	$	—	$	—		$	55,205
U.S. Treasury securities	Level 1		96,129		—		(676	)		95,453
Corporate debt securities	Level 2		68,661		—		(495	)		68,166
Commercial paper	Level 2		74,359		—		—			74,359
Asset-backed securities	Level 2		9,053		—		(43	)		9,010
Long-term investments
U.S. Treasury securities	Level 1		—		—		—			—
Corporate debt securities	Level 2		10,902		—		(42	)		10,860
Total		$	314,309	$	—	$	(1,256	)	$	313,053

	December 31, 2021
	Fair Value Hierarchy Level	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Money market funds	Level 1	$	357,181	$	—	$	—	$	357,181

Schedule of Fair Value of Available for Sale Investments

The fair value of cash equivalents and available-for-sale investments by classification included in the condensed consolidated balance sheets was as follows (in thousands):

	June 30,		December 31,
	2022		2021
Cash and cash equivalents	$	55,205	$	357,181
Short-term investments		246,988		—
Long-term investments		10,860		—
Total	$	313,053	$	357,181

Schedule of Fair Value of Available-for-Sale Investments by Contractual Maturity

The fair value of cash equivalents and available-for-sale investments by contractual maturity was as follows (in thousands):

	June 30,		December 31,
	2022		2021
Maturing in one year or less	$	302,193	$	357,181
Maturing after one year through five years		10,860		—
Total	$	313,053	$	357,181