Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table represents the fair value hierarchy for our financial assets (cash equivalents and marketable securities) measured at fair value on a recurring basis (in thousands):

	Level 1		Level 2		Level 3		Total
December 31, 2023
Assets
Money market funds	$	131,635	$	-	$	-	$	131,635
U.S. treasuries		-		74,237		-		74,237
U.S. government agency securities		-		216,688		-		216,688
Corporate debt securities		-		308,552		-		308,552
Total assets	$	131,635	$	599,477	$	-	$	731,112
	Level 1		Level 2		Level 3		Total
December 31, 2022
Assets
Money market funds	$	172,418	$	-	$	-	$	172,418
U.S. treasuries		-		42,308		-		42,308
U.S. government agency securities		-		88,032		-		88,032
Corporate debt securities		-		292,051		-		292,051
Total assets	$	172,418	$	422,391	$	-	$	594,809

Summary of Changes in Fair Value Warrant liability

The following table provides a summary of changes in the fair value warrant liability for year ended December 31, 2022 (in thousands):

Balance at December 31, 2021	$	18,016
Decrease in fair value of warrants exercised		(1,801	)
Warrants exercised or expired		(16,215	)
Balance at December 31, 2022	$	-