Fair Value Measurements

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022 (in thousands):

	Fair Value Measurements at December 31, 2023:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market fund	$	78,010	$	—	$	—	$	78,010
US treasuries		27,985		—		—		27,985
Commercial Paper		997		—		—		997
Marketable securities, current
US treasuries		23,253		—		—		23,253
US government agencies		—		114,384		—		114,384
Corporate bonds		—		127,278		—		127,278
Marketable securities, non-current
US treasuries		—		—		—		—
US government agencies		—		28,307		—		28,307
Corporate bonds		—		33,127		—		33,127
Restricted cash		5,811		—		—		5,811
Total	$	136,056	$	303,096	$	—	$	439,152

	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

During the years ended December 31, 2023 and 2022, there were no transfers in or out of Level 3.