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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of June 30, 2022 and December 31, 2021 (in thousands):

 

 

 

June 30, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Aggregate Fair Value

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market mutual funds

 

$

11,041

 

 

$

 

 

$

 

 

$

11,041

 

U.S. Treasury securities

 

 

14,977

 

 

 

 

 

 

 

 

 

14,977

 

Corporate debt securities and commercial paper

 

 

 

 

 

5,992

 

 

 

 

 

 

5,992

 

Total included in cash and cash equivalents

 

 

26,018

 

 

 

5,992

 

 

 

 

 

 

32,010

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

185,491

 

 

 

 

 

 

 

 

 

185,491

 

U.S. Government agencies

 

 

 

 

 

16,004

 

 

 

 

 

 

16,004

 

Corporate debt securities and commercial paper

 

 

 

 

 

49,277

 

 

 

 

 

 

49,277

 

Total included in short-term investments

 

 

185,491

 

 

 

65,281

 

 

 

 

 

 

250,772

 

Total assets

 

$

211,509

 

 

$

71,273

 

 

$

 

 

$

282,782

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Aggregate Fair Value

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market mutual funds

 

$

48,595

 

 

$

 

 

$

 

 

$

48,595

 

Total included in cash and cash equivalents

 

 

48,595

 

 

 

 

 

 

 

 

 

48,595

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

44,322

 

 

 

 

 

 

 

 

 

44,322

 

Corporate debt securities and commercial paper

 

 

 

 

 

39,026

 

 

 

 

 

 

39,026

 

Total included in short-term investments

 

 

44,322

 

 

 

39,026

 

 

 

 

 

 

83,348

 

U.S. Treasury securities included in
  long-term investments

 

 

3,983

 

 

 

 

 

 

 

 

 

3,983

 

Total assets

 

$

96,900

 

 

$

39,026

 

 

$

 

 

$

135,926