Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

In accordance with the fair value hierarchy, the following table shows the fair value as of December 31, 2021 and December 31, 2020 of those financial assets and liabilities that are measured at fair value on a recurring basis, according to the valuation techniques the Company used to determine their fair value. No financial assets or liabilities are measured at fair value on a nonrecurring basis at December 31, 2021 and December 31, 2020.


	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Fair Value
(in thousands)
As of December 31, 2021
Cash equivalents:
Money market funds	$	33,944	$	—	$	—	$	33,944



Short-term investments:
Corporate commercial paper, bonds and notes	—		75,870		—		75,870
Long-term investments:
Corporate commercial paper, bonds and notes	—		23,964		—		23,964
Total assets at fair value	$	33,944	$	99,834	$	—	$	133,778


	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Fair Value
(in thousands)
As of December 31, 2020
Cash equivalents:
Money market funds	$	115,278	$	—	$	—	$	115,278



Short-term investments:
Corporate commercial paper, bonds and notes	—		38,884		—		38,884
Long-term investments:
Corporate commercial paper, bonds and notes	—		14,564		—		14,564
Total assets at fair value	$	115,278	$	53,448	$	—	$	168,726