Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value of Financial Instruments [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy (in thousands):

	March 31, 2024
	Level 1		Level 2		Level 3		Total
Financial Assets:
Cash equivalents:
Money market funds	$	45,470	$	-	$	-	$	45,470
Marketable securities:
U.S. Treasury securities		151,524		-		-		151,524
Commercial paper		-		30,744		-		30,744
Total assets at fair value on a recurring basis	$	196,994	$	30,744	$	-	$	227,738
Liabilities:
Public Warrants	$	920	$	-	$	-	$	920
Private Warrants		-		-		35		35
Total liabilities at fair value on a recurring basis	$	920	$	-	$	35	$	955

	December 31, 2023
	Level 1		Level 2		Level 3		Total
Financial Assets:
Cash equivalents:
Money market funds	$	50,226	$	-	$	-	$	50,226
U.S. Treasury securities		59,654		-		-		59,654
Commercial paper		-		19,436		-		19,436
Marketable securities:
U.S. Treasury securities		82,640		-		-		82,640
Commercial paper		-		41,236		-		41,236
Total assets at fair value on a recurring basis	$	192,520	$	60,672	$	-	$	253,192
Liabilities:
Public Warrants	$	1,227	$	-	$	-	$	1,227
Private Warrants		-		-		47		47
Total liabilities at fair value on a recurring basis	$	1,227	$	-	$	47	$	1,274