Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis |
The following table sets forth the recurring fair value of the Company’s financial assets and liabilities, allocated into the Level 1, Level 2 and Level 3 hierarchy that were measured at fair value on a recurring basis (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements as of March 31, 2023 | | Level 1 | | Level 2 | | Level 3 | | Total | Assets: | | | | | | | | Money market funds (1) | $ | 23,654 | | | $ | — | | | $ | — | | | $ | 23,654 | | U.S. government treasury bills | 50,076 | | | — | | | — | | | 50,076 | | Commercial paper | — | | | 47,233 | | | — | | | 47,233 | | Corporate bonds | — | | | 4,260 | | | — | | | 4,260 | | Government agency | — | | | 15,559 | | | — | | | 15,559 | | Total financial assets | $ | 73,730 | | | $ | 67,052 | | | $ | — | | | $ | 140,782 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements as of December 31, 2022 | | Level 1 | | Level 2 | | Level 3 | | Total | Assets: | | | | | | | | Money market funds (1) | $ | 32,035 | | | $ | — | | | $ | — | | | $ | 32,035 | | U.S. government treasury bills | 70,708 | | | — | | | — | | | 70,708 | | Commercial paper | — | | | 53,296 | | | — | | | 53,296 | | Corporate bonds | — | | | 4,250 | | | — | | | 4,250 | | Government agency | — | | | 5,287 | | | — | | | 5,287 | | Total financial assets | $ | 102,743 | | | $ | 62,833 | | | $ | — | | | $ | 165,576 | |
(1)Included in cash and cash equivalents in the accompanying condensed consolidated balance sheets.
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