Fair Value of Financial Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Financial Instruments Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the inputs the Company utilized to determine such fair value (in thousands):

	June 30, 2022
	Total		Level 1		Level 2		Level 3
Financial assets:
Money market funds (cash equivalents)	$	23,410	$	23,410	$	—	$	—
Marketable securities		181,594		36,619		144,975		—
Total financial assets measured at fair value	$	205,004	$	60,029	$	144,975	$	—

	December 31, 2021
	Total		Level 1		Level 2		Level 3
Financial assets:
Money market funds (cash equivalents)	$	10,319	$	10,319	$	—	$	—
Marketable securities		225,357		27,186		198,171		—
Total financial assets measured at fair value	$	235,676	$	37,505	$	198,171	$	—

Schedule of Contingent Common Stock Liability Measured at Fair Value

A rollforward of the contingent common stock liability, which was measured at fair value until the settlement in May 2021, is represented as follows (in thousands):

Fair value as of December 31, 2020	$	373
Change in fair value		735
Share issuance in partial settlement of contingent stock		(831	)
Cash payment in partial settlement of contingent stock		(277	)
Fair value as of June 30, 2021	$	—