Fair Value of Financial Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value of Financial Assets and Liabilities

Schedule of assets and liabilities measured at fair value on a recurring basis

	March 31, 2024
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	33,536	$	—	$	—	$	33,536
Marketable securities		—		125,524		—		125,524
Total assets	$	33,536	$	125,524	$	—	$	159,060
Liabilities:
Contingent consideration	$	—	$	—	$	9,000	$	9,000
Total liabilities	$	—	$	—	$	9,000	$	9,000

	December 31, 2023
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	32,177	$	—	$	—	$	32,177
Marketable securities		—		141,999		—		141,999
Total assets	$	32,177	$	141,999	$	—	$	174,176
Liabilities:
Contingent consideration	$	—	$	—	$	6,200	$	6,200
Total liabilities	$	—	$	—	$	6,200	$	6,200

Schedule of the fair value of available for sale marketable securities

	March 31, 2024
			Gross		Gross
	Book		Unrealized		Unrealized		Fair
(In thousands)	Value		Gain		Loss		Value
Marketable securities:
Corporate debt securities(1)	$	52,531	$	26	$	(186)	$	52,371
Commercial paper		4,949		—		—		4,949
Asset-backed debt securities(2)		10,537		71		(33)		10,575
Foreign government agency debt securities(3)		4,765		22		—		4,787
U.S. government and government agency debt securities(4)		53,110		—		(268)		52,842
Total marketable securities	$	125,892	$	119	$	(487)	$	125,524
(1) Included in Corporate debt securities is $17.9 million with maturity dates between one and two years.
(2) Included in Asset-backed debt securities is $5.8 million with maturity dates between one and two years.
(3) Included in Foreign government agency debt securities is $4.8 million with a maturity date between one and two years.
(4) Included in U.S. government and government agency debt securities is $4.7 million with maturity dates between one and two years.

	December 31, 2023
			Gross		Gross
	Book		Unrealized		Unrealized		Fair
(In thousands)	Value		Gain		Loss		Value
Marketable securities:
Corporate debt securities(1)	$	52,362	$	65	$	(142)	$	52,285
Commercial paper		12,345		2		(1)		12,346
Asset-backed debt securities(2)		10,953		42		(30)		10,965
Foreign government agency debt securities(3)		4,698		43		—		4,741
U.S. government and government agency debt securities(4)		61,750		8		(96)		61,662
Total marketable securities	$	142,108	$	160	$	(269)	$	141,999
(1) Included in Corporate debt securities is $28.0 million with maturity dates between one and two years.
(2) Included in Asset-backed debt securities is $6.2 million with maturity dates between one and three years.
(3) Included in Foreign government agency debt securities is $4.7 million with a maturity date between one and two years.
(4) Included in U.S. government and government agency debt securities is $23.9 million with maturity dates between one and two years.