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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Recorded at Fair Value on a Recurring Basis

The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of inputs used in such measurements (in thousands):

 

 

 

As of December 31, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

25,313

 

 

$

 

 

$

 

 

$

25,313

 

Restricted cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

 

500

 

 

 

 

 

 

 

 

 

500

 

Marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasuries

 

 

36,456

 

 

 

 

 

 

 

 

 

36,456

 

Commercial paper

 

 

 

 

 

26,631

 

 

 

 

 

 

26,631

 

Corporate debt securities

 

 

 

 

 

6,900

 

 

 

 

 

 

6,900

 

International government

 

 

 

 

 

1,488

 

 

 

 

 

 

1,488

 

Total assets

 

$

62,269

 

 

$

35,019

 

 

$

 

 

$

97,288

 

 

 

 

As of December 31, 2021

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

115,595

 

 

$

 

 

$

 

 

$

115,595

 

Total assets

 

$

115,595

 

 

$

 

 

$

 

 

$

115,595

 

Summary of the Changes in the Fair Value of the Company’s Liability

The following tables set forth a summary of the changes in the fair value of the Company’s liability measured using Level 3 inputs (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

Balance at beginning of period

 

$

 

 

$

320

 

Change in estimated fair value of Series E warrants

 

 

 

 

 

371

 

Settlement of Series E warrants

 

 

 

 

 

(691

)

Balance at end of period

 

$

 

 

$