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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis

The following tables set forth the financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy as of June 30, 2022 and December 31, 2021 (in thousands):

 

 

June 30, 2022

 

 

 

Total Fair
Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds (1)

 

$

44,212

 

 

$

44,212

 

 

$

 

 

$

 

Commercial paper (1)

 

 

30,959

 

 

 

 

 

 

30,959

 

 

 

 

Total cash equivalents

 

 

75,171

 

 

 

44,212

 

 

 

30,959

 

 

 

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries(2)

 

 

253,109

 

 

 

253,109

 

 

 

 

 

 

 

Total financial assets

 

$

328,280

 

 

$

297,321

 

 

$

30,959

 

 

$

 

 

 

 

December 31, 2021

 

 

 

Total Fair
Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds (1)

 

$

376,976

 

 

$

376,976

 

 

$

 

 

$

 

(1)
Included within cash and cash equivalents on the condensed balance sheet.
(2)
Included within investments in marketable securities, current and investments in marketable securities, non-current on the condensed balance sheet.