Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 30, 2022 and December 31, 2021 (in thousands):

	Fair value measurements as of
	September 30, 2022
	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	10,564	$	—	$	—	$	10,564
Commercial paper		—		9,978		—		9,978
U.S. Treasuries		—		3,981		—		3,981
Total cash equivalents		10,564		13,959		—		24,523
Marketable securities
Corporate bonds		—		22,498		—		22,498
Commercial paper		—		10,681		—		10,681
U.S. Government Agencies		—		1,225		—		1,225
U.S. Treasuries		—		10,940		—		10,940
Total marketable securities		—		45,344		—		45,344
Total	$	10,564	$	59,303	$	—	$	69,867

	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 September 30, 2022 and December 31, 2021 (in thousands):

	Fair value measurements as of
	September 30, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Credit
	Cost		Gains		Losses		Losses		Total
Corporate bonds	$	23,027	$	—	$	(529)	$	—	$	22,498
Commercial paper		10,722		—		(41)		—		10,681
U.S. Treasuries		1,229		—		(4)		—		1,225
U.S. Government Agencies		11,010		—		(70)		—		10,940
Total	$	45,988	$	—	$	(644)	$	—	$	45,344

	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 September 30, 2022 and December 31, 2021 (in thousands):

	September 30,		December 31,
	2022		2021
Maturities in one year or less	$	40,082	$	9,004
Maturities between one and two years		5,262		7,209
Total	$	45,344	$	16,213