Fair Value Measurements and Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

The Company’s fair value hierarchy for its cash equivalents and available-for-sale marketable securities measured at fair value on a recurring basis as of June 30, 2024, was as follows (in thousands):

	Fair Value Measurements
As of June 30, 2024	Total		Level 1		Level 2		Level 3
Cash equivalents
Money market funds	$	98,870	$	98,870	$	—	$	—
U.S. Treasury bills		31,400		—		31,400		—
Available-for-sale marketable securities
U.S. Treasury notes		29,773		—		29,773		—
U.S. Treasury bills		184,846		—		184,846		—
Total fair value of assets	$	344,889	$	98,870	$	246,019	$	—

The Company’s fair value hierarchy for its cash equivalents and available-for-sale marketable securities measured at fair value on a recurring basis as of December 31, 2023, was as follows (in thousands):

	Fair Value Measurements
As of December 31, 2023	Total		Level 1		Level 2		Level 3
Cash equivalents
Money market funds	$	29,050	$	29,050	$	—	$	—
Available-for-sale marketable securities
U.S. Treasury bills		22,896		—		22,896		—
Total fair value of assets	$	51,946	$	29,050	$	22,896	$	—