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):
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March 31, 2023 |
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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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$ |
99,794 |
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$ |
— |
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$ |
— |
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$ |
99,794 |
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$ |
99,794 |
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$ |
— |
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Subtotal |
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$ |
99,794 |
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$ |
— |
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$ |
— |
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$ |
99,794 |
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$ |
99,794 |
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$ |
— |
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Level 2: |
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Commercial paper |
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$ |
2,783 |
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$ |
— |
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$ |
— |
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$ |
2,783 |
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$ |
— |
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$ |
2,783 |
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U.S. treasury securities |
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13,933 |
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2 |
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— |
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13,935 |
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— |
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13,935 |
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Subtotal |
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$ |
16,716 |
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$ |
2 |
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$ |
— |
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$ |
16,718 |
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$ |
— |
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$ |
16,718 |
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Total |
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$ |
116,510 |
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$ |
2 |
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$ |
— |
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$ |
116,512 |
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$ |
99,794 |
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$ |
16,718 |
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December 31, 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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$ |
77,191 |
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$ |
— |
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$ |
— |
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$ |
77,191 |
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$ |
77,191 |
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$ |
— |
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Subtotal |
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$ |
77,191 |
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$ |
— |
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$ |
— |
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$ |
77,191 |
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$ |
77,191 |
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$ |
— |
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Level 2: |
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Commercial paper |
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$ |
18,701 |
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$ |
— |
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$ |
— |
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$ |
18,701 |
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$ |
— |
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$ |
18,701 |
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U.S. Treasury securities |
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|
35,266 |
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— |
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(55 |
) |
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35,211 |
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|
4,984 |
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|
30,227 |
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Subtotal |
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$ |
53,967 |
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$ |
— |
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$ |
(55 |
) |
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$ |
53,912 |
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|
$ |
4,984 |
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$ |
48,928 |
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Total |
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$ |
131,158 |
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$ |
— |
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|
$ |
(55 |
) |
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$ |
131,103 |
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|
$ |
82,175 |
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$ |
48,928 |
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