Fair Value Measurements

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

3. Fair Value Measurements

The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of March 31, 2022 and December 31, 2021 (in thousands):

	Fair Value Measurements at March 31, 2022:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market fund	$	26,857	$	—	$	—	$	26,857
Marketable securities, current
US treasuries		150,382		—		—		150,382
US government agencies		49,357		—		—		49,357
Corporate bonds		—		187,340		—		187,340
Marketable securities, non-current
US treasuries		16,287		—		—		16,287
US government agencies		39,096		—		—		39,096
Corporate bonds		—		47,095		—		47,095
Restricted cash		6,112		—		—		6,112
Total	$	288,091	$	234,435	$	—	$	522,526

	Fair Value Measurements at December 31, 2021:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market fund	$	43,182	$	—	$	—	$	43,182
Marketable securities, current
US treasuries		169,481		—		—		169,481
US government agencies		32,170		—		—		32,170
Corporate bonds		—		192,791		—		192,791
Marketable securities, non-current
US treasuries		17,172		—		—		17,172
US government agencies		47,363		—		—		47,363
Corporate bonds		—		60,652		—		60,652
Restricted cash		6,116		—		—		6,116
Total	$	315,484	$	253,443	$	—	$	568,927

During the three months ended March 31, 2022 and the year ended December 31, 2021, there were no transfers between Level 1, Level 2 and Level 3.