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Fair Value Measurement
9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurement Fair Value Measurement
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 September 30, 2023
Level 1Level 2Level 3Total
Assets:
Money market funds (1)$66,282 $— $— $66,282 
U.S. government treasury bills20,312 — — 20,312 
Commercial paper— 11,313 — 11,313 
Corporate bonds— 10,027 — 10,027 
Government agency— 10,877 — 10,877 
Total financial assets$86,594 $32,217 $— $118,811 
Fair Value Measurements as of December 31, 2022
Level 1Level 2Level 3Total
Assets:
Money market funds (1)$32,035 $— $— $32,035 
U.S. government treasury bills70,708 — — 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.
As of September 30, 2023, net unrealized loss on investments was $16,000. All marketable securities had a contractual maturity of less than one year as of September 30, 2023.