Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Summary of Marketable Securities by Security Type

The following tables set forth marketable securities for the periods presented:

	As of March 31, 2024
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses			Total
Commercial paper		25,572		3		(20	)		25,555
Corporate debt securities		106,675		20		(132	)		106,563
Certificates of deposit		12,874		—		(6	)		12,868
U.S. treasury notes		36,523		3		—			36,526
Total	$	181,644	$	26	$	(158	)	$	181,512

	As of December 31, 2023
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Total
Corporate debt securities		1,474		—		—		1,474
Total	$	1,474	$	—	$	—	$	1,474

Summary of Assets Carried at Fair Value on Recurring Basis

The following tables set forth by level, within the fair value hierarchy (see Note 2), the assets carried at fair value on a recurring basis for the periods presented:

	Fair value measurements as of March 31, 2024
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market funds	$	9,308	$	—	$	—	$	9,308
Corporate debt securities		—		7,142		—		7,142
U.S. treasury notes		4,734		—		—		4,734
Marketable securities
Commercial paper		25,555		—		—		25,555
Corporate debt securities		—		106,563		—		106,563
Certificates of deposit		—		12,868		—		12,868
U.S. treasury notes		36,526		—		—		36,526
Total	$	76,123	$	126,573	$	—	$	202,696

	Fair Value Measurements as of December 31, 2023
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market funds	$	66,179	$	—	$	—	$	66,179
U.S. treasury notes		18,689		—		—		18,689
Marketable securities
Corporate debt securities		—		1,474		—		1,474
Total	$	84,868	$	1,474	$	—	$	86,342

Summary of Scheduled Maturity for Marketable Securities

The following table summarizes the scheduled maturity for the Company's marketable securities for the periods presented:

(in thousands)	March 31, 2024
Maturing in one year or less	$	132,213
Maturing after one year through two years		49,299
Maturing after two years		—
Total	$	181,512