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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Summary of Financial Assets Measured at Fair Value on Recurring Basis

The Company measures and reports certain financial instruments as assets and liabilities at fair value on a recurring basis. The Company’s financial assets measured at fair value on a recurring basis were as follows (in thousands):

 

 

 

December 31, 2023

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

67,070

 

 

$

 

 

$

 

 

$

67,070

 

Total cash equivalents

 

 

67,070

 

 

 

 

 

 

 

 

 

67,070

 

Short-term marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

 

96,705

 

 

 

 

 

 

 

 

 

96,705

 

U.S. government agency bonds

 

 

7,649

 

 

 

 

 

 

 

 

 

7,649

 

Total short-term marketable securities

 

 

104,354

 

 

 

 

 

 

 

 

 

104,354

 

Total cash equivalents and short-term
   marketable securities

 

$

171,424

 

 

$

 

 

$

 

 

$

171,424

 

 

 

 

 

December 31, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

86,270

 

 

$

 

 

$

 

 

$

86,270

 

Total cash equivalents

 

 

86,270

 

 

 

 

 

 

 

 

 

86,270

 

Short-term marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

 

192,569

 

 

 

 

 

 

 

 

 

192,569

 

Total short-term marketable securities

 

 

192,569

 

 

 

 

 

 

 

 

 

192,569

 

Total cash equivalents and short-term
   marketable securities

 

$

278,839

 

 

$

 

 

$

 

 

$

278,839