Recurring Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table sets forth the Company’s financial instruments as of September 30, 2022 and December 31, 2021, which are measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

	September 30, 2022
	Level 1		Level 2		Level 3		Total
Financial assets:
Money market funds	$	34,081	$	—	$	—	$	34,081
U.S. treasury securities		—		228,440		—		228,440
U.S. government agency securities		—		97,359		—		97,359
Total assets measured at fair value	$	34,081	$	325,799	$	—	$	359,880

	December 31, 2021
	Level 1		Level 2		Level 3		Total
Financial assets:
Money market funds	$	111,221	$	—	$	—	$	111,221
Total assets measured at fair value	$	111,221	$	—	$	—	$	111,221

Schedule of cash equivalents, marketable securities, and unrealized gains and losses

The following tables summarize the estimated fair value of the Company's cash equivalents, available-for-sale securities classified as short-term investments, and associated unrealized gains and losses (in thousands):

	September 30, 2022
	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Cash equivalents:
Money market funds	$	34,081	$	—	$	—		$	34,081
U.S. government agency securities		72,322		—		—			72,322
Total cash equivalents		106,403		—		—			106,403
Short-term investments
U.S. treasury securities		228,802		1		(363	)		228,440
U.S. government agency securities		25,067		—		(30	)		25,037
Total short-term investments	$	253,869	$	1	$	(393	)	$	253,477

	December 31, 2021
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	111,221	$	—	$	—	$	111,221
Total cash equivalents	$	111,221	$	—	$	—	$	111,221

Schedule of available-for-sale marketable securities with gross unrealized losses

The following table presents the breakdown of the Company's available-for-sale securities with gross unrealized losses and the duration that those losses had been unrealized as September 30, 2022 (in thousands):

	September 30, 2022
	Unrealized Losses Less Than 12 Months					Unrealized Losses 12 Months or Greater				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Financial assets:
U.S. treasury securities	$	218,452	$	(363	)	$	—	$	—	$	218,452	$	(363	)
U.S. government agency securities		25,037		(30	)		—		—		25,037		(30	)
Total financial assets	$	243,489	$	(393	)	$	—	$	—	$	243,489	$	(393	)

Schedule of maturities of our available-for-sale marketable securities table text block

The following table summarizes the maturities of our cash equivalents and available-for-sale securities as of September 30, 2022 (in thousands):

	Amortized Cost		Fair Value
Mature in one year or less	$	360,272	$	359,880
Total	$	360,272	$	359,880