Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Measurements and marketable securities

Schedule of financial assets and liabilities measured at fair value on a recurring basis

The following table summarizes the Company’s cash equivalents and marketable securities as of June 30, 2022 and December 31, 2021 (in thousands):

	Fair value measurements as of
	June 30, 2022
	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	16,948	$	—	$	—	$	16,948
Commercial paper		—		11,494		—		11,494
U.S. Treasuries		—		999		—		999
Total cash equivalents		16,948		12,493		—		29,441
Marketable securities
Corporate bonds		—		24,898		—		24,898
Commercial paper		—		16,624		—		16,624
U.S. Government Agencies		—		1,230		—		1,230
U.S. Treasuries		—		10,910		—		10,910
Total marketable securities		—		53,662		—		53,662
Total	$	16,948	$	66,155	$	—	$	83,103

	Fair value measurements as of
	December 31, 2021
	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	50,847	$	—	$	—	$	50,847
Commercial paper		—		25,995		—		25,995
Corporate bonds		—		1,000		—		1,000
Total cash equivalents		50,847		26,995		—		77,842
Marketable securities
Corporate bonds		—		10,238		—		10,238
Commercial paper		—		5,975		—		5,975
Total marketable securities		—		16,213		—		16,213
Total	$	50,847	$	43,208	$	—	$	94,055

Schedule of marketable securities

The following tables summarizes the Company’s available-for-sale marketable debt securities as of June 30, 2022 and December 31, 2021 (in thousands):

	Fair value measurements as of
	June 30, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Credit
	Cost		Gains		Losses		Losses		Total
Corporate bonds	$	25,316	$	—	$	(418)	$	—	$	24,898
Commercial paper		16,703		—		(79)		—		16,624
U.S. Treasuries		1,250		—		(20)		—		1,230
U.S. Government Agencies		10,943		—		(33)		—		10,910
Total	$	54,212	$	—	$	(550)	$	—	$	53,662

	Fair value measurements as of
	December 31, 2021
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Total
Commercial paper	$	10,244	$	—	$	(6)	$	10,238
Corporate bonds		5,977		—		(2)		5,975
Total	$	16,221	$	—	$	(8)	$	16,213

Schedule of available-for-sale marketable debt securities by contractual maturity

The following table summarizes the Company’s available-for-sale marketable debt securities by contractual maturity as of June 30, 2022 and December 31, 2021 (in thousands):

	June 30,		December 31,
	2022		2021
Maturities in one year or less	$	45,420	$	9,004
Maturities between one and two years		8,242		7,209
Total	$	53,662	$	16,213