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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis:

 

 

December 31, 2021

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

95,339

 

 

$

 

 

$

 

 

$

95,339

 

Investments

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

 

 

 

12,609

 

 

 

 

 

 

12,609

 

U.S. Treasuries

 

 

 

 

 

75,059

 

 

 

 

 

 

75,059

 

Total investments

 

 

 

 

 

87,668

 

 

 

 

 

 

87,668

 

Restricted cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

 

2,413

 

 

 

 

 

 

 

 

 

2,413

 

Total

 

$

97,752

 

 

$

87,668

 

 

$

 

 

$

185,420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2020

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

41,036

 

 

$

 

 

$

 

 

$

41,036

 

Total

 

$

41,036

 

 

$

 

 

$

 

 

$

41,036