FAIR VALUE

6 Months Ended

Jun. 30, 2023

FAIR VALUE

FAIR VALUE

8. Fair Value

The table below summarizes the fair value of our cash equivalents and short-term investments measured at fair value on a recurring basis, and are categorized based upon the lowest level of significant input to the valuations (in thousands):

	Assets at Fair Value as of June 30, 2023
	Level 1		Level 2		Level 3		Total
Money market funds	$	21,109	$	—	$	—	$	21,109
US treasury bills		—		8,953		—		8,953
Government-sponsored enterprise securities		—		15,584		—		15,584
Corporate bonds and commercial paper		—		9,917		—		9,917
Total	$	21,109	$	34,454	$	—	$	55,563

	Assets at Fair Value as of December 31, 2022
	Level 1		Level 2		Level 3		Total
Money market funds	$	4,155	$	—	$	—	$	4,155
US treasury bills		—		5,225		—		5,225
Government-sponsored enterprise securities		—		15,796		—		15,796
Corporate bonds and commercial paper		—		26,766		—		26,766
Total	$	4,155	$	47,787	$	—	$	51,942