Fair Value Measurements

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 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 December 31, 2022 and December 31, 2021 (in thousands):

	Fair Value Measurements at December 31, 2022:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market fund	$	50,551	$	—	$	—	$	50,551
Marketable securities, current
US treasuries		74,045		—		—		74,045
US government agencies		—		120,467		—		120,467
Corporate bonds		—		144,259		—		144,259
Marketable securities, non-current
US treasuries		19,804		—		—		19,804
US government agencies		—		58,653		—		58,653
Corporate bonds		—		73,871		—		73,871
Restricted cash		6,130						6,130
Total	$	150,530	$	397,250	$	—	$	547,780

	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 years ended December 31, 2022 and 2021, there were no transfers in or out of Level 3.