Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Financial Assets Fair Value Measurement on Recurring Basis

The following table presents the Company’s financial assets, which consist of cash equivalents and investments classified as available-for-sale investments, that are measured at fair value on a recurring basis (in thousands):

	September 30, 2023
	Level	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
Cash equivalents:
Money market funds	Level 1	$	22,040	$	—	$	—		$	22,040
Short-term investments:
U.S. Treasury securities	Level 1		13,569		—		(6	)		13,563
U.S. Government agency securities	Level 2		23,315		6		(22	)		23,299
Commercial paper	Level 2		40,887		—		(66	)		40,821
Asset-backed securities	Level 2		8,659		—		(20	)		8,639
Corporate debt securities	Level 2		4,881		—		(1	)		4,880
Long-term investments:
U.S. Treasury securities	Level 1		21,369		—		(15	)		21,354
U.S. Government agency securities	Level 2		5,000		2		—			5,002
Total		$	139,720	$	8	$	(130	)	$	139,598

	December 31, 2022
	Level	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
Cash equivalents:
Money market funds	Level 1	$	10,152	$	—	$	—		$	10,152
Short-term investments:
U.S. Treasury securities	Level 1		29,381		—		(213	)		29,168
Commercial paper	Level 2		27,701		2		(82	)		27,621
U.S. Government agency securities	Level 2		12,126		4		(79	)		12,051
Long-term investments:										—
U.S. Treasury securities	Level 1		1,224		—		(1	)		1,223
U.S. Government agency securities	Level 2		2,001		—		(5	)		1,996
Total		$	82,585	$	6	$	(380	)	$	82,211