Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

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 March 31, 2023 and December 31, 2022 by valuation hierarchy (in thousands):

	March 31, 2023
	Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Marketable Securities
Level 1:
Money market funds	$	99,794	$	—	$	—	$	99,794	$	99,794	$	—
Subtotal	$	99,794	$	—	$	—	$	99,794	$	99,794	$	—
Level 2:
Commercial paper	$	2,783	$	—	$	—	$	2,783	$	—	$	2,783
U.S. treasury securities		13,933		2		—		13,935		—		13,935
Subtotal	$	16,716	$	2	$	—	$	16,718	$	—	$	16,718
Total	$	116,510	$	2	$	—	$	116,512	$	99,794	$	16,718

	December 31, 2022
	Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Level 1:
Money market funds	$	77,191	$	—	$	—		$	77,191	$	77,191	$	—
Subtotal	$	77,191	$	—	$	—		$	77,191	$	77,191	$	—
Level 2:
Commercial paper	$	18,701	$	—	$	—		$	18,701	$	—	$	18,701
U.S. Treasury securities		35,266		—		(55	)		35,211		4,984		30,227
Subtotal	$	53,967	$	—	$	(55	)	$	53,912	$	4,984	$	48,928
Total	$	131,158	$	—	$	(55	)	$	131,103	$	82,175	$	48,928