Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Financial Assets & Liabilities Measured At Fair Value On Recurring Basis

The following tables present information about the fair value measurements of the Company’s financial assets and liabilities which are measured at fair value on a recurring basis, and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands):

	June 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market fund	$	23,032	$	—	$	—	$	23,032
Commercial paper		—		13,987		—		13,987
Total cash equivalents		23,032		13,987		—		37,019
Marketable securities
U.S. Treasury securities		55,390		—		—		55,390
U.S. government agency securities		—		11,459		—		11,459
Corporate debt securities		—		2,979		—		2,979
Commercial paper		—		141,860		—		141,860
Asset backed securities		—		1,321				1,321
Total marketable securities		55,390		157,619		—		213,009
Total assets	$	78,422	$	171,606	$	—	$	250,028

	December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market fund	$	23,712	$	—	$	—	$	23,712
Corporate debt securities		—		975		—		975
Commercial paper		—		34,248		—		34,248
Total cash equivalents		23,712		35,223		—		58,935
Marketable securities
U.S. Treasury securities		28,148		—		—		28,148
Corporate debt securities		—		4,039		—		4,039
Commercial paper		—		176,735		—		176,735
Asset backed securities		—		7,011		—		7,011
Total marketable securities		28,148		187,785		—		215,933
Total assets	$	51,860	$	223,008	$	—	$	274,868

Summary Of Available For Sale Marketable Securities By Type Of Security

As of June 30, 2022 and December 31, 2021, the fair value of the Company’s available-for-sale marketable securities by type of security was as follows (in thousands):

	June 30, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gain		Loss			Value
Marketable securities:
U.S. Treasury securities	$	56,077	$	—	$	(687	)	$	55,390
U.S. government agency securities		11,499		—		(40	)		11,459
Corporate debt securities		3,025		—		(46	)		2,979
Commercial paper		142,373		—		(513	)		141,860
Asset backed securities		1,324		—		(3	)		1,321
Total marketable securities	$	214,298	$	—	$	(1,289	)	$	213,009

	December 31, 2021
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gain		Loss			Value
Marketable securities:
U.S. Treasury securities	$	28,204	$	—	$	(56	)	$	28,148
Corporate debt securities		4,042		—		(3	)		4,039
Commercial paper		176,742		17		(24	)		176,735
Asset backed securities		7,014		—		(3	)		7,011
Total marketable securities	$	216,002	$	17	$	(86	)	$	215,933