Assets and Liabilities Carried at Fair Value Measured on Recurring Basis |
The following tables summarize the Company’s assets by significant categories carried at fair value measured on a recurring basis at September 30, 2022 and December 31, 2021 by valuation hierarchy (in thousands):
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September 30, 2022 |
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Carrying Value |
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Gross Unrealized Gains |
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Gross Unrealized Losses |
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Fair Value |
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Cash Equivalents |
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Marketable Securities |
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Level 1: |
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Money market funds |
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$ |
62,431 |
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$ |
— |
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$ |
— |
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$ |
62,431 |
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$ |
62,431 |
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$ |
— |
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Subtotal |
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$ |
62,431 |
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$ |
— |
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$ |
— |
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$ |
62,431 |
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$ |
62,431 |
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$ |
— |
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Level 2: |
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Commercial paper |
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$ |
28,781 |
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$ |
— |
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$ |
— |
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$ |
28,781 |
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$ |
— |
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$ |
28,781 |
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U.S. treasury securities |
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53,304 |
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— |
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(188 |
) |
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$ |
53,116 |
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— |
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$ |
53,116 |
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Subtotal |
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$ |
82,085 |
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$ |
— |
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$ |
(188 |
) |
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$ |
81,897 |
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$ |
— |
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$ |
81,897 |
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Total |
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$ |
144,516 |
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$ |
— |
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$ |
(188 |
) |
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$ |
144,328 |
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$ |
62,431 |
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$ |
81,897 |
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December 31, 2021 |
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Carrying Value |
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Gross Unrealized Gains |
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Gross Unrealized Losses |
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Fair Value |
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Cash Equivalents |
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Marketable Securities |
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Level 1: |
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Money market funds |
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$ |
155,551 |
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$ |
— |
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$ |
— |
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$ |
155,551 |
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$ |
155,551 |
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$ |
— |
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Subtotal |
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$ |
155,551 |
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$ |
— |
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$ |
— |
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$ |
155,551 |
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$ |
155,551 |
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$ |
— |
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Level 2: |
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Commercial paper |
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$ |
49,514 |
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$ |
— |
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$ |
— |
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$ |
49,514 |
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$ |
16,549 |
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$ |
32,965 |
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Subtotal |
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$ |
49,514 |
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$ |
— |
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$ |
— |
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$ |
49,514 |
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$ |
16,549 |
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$ |
32,965 |
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Total |
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$ |
205,065 |
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$ |
— |
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$ |
— |
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$ |
205,065 |
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$ |
172,100 |
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$ |
32,965 |
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