| Schedule of Financial Instruments Measured at Fair Value on Recurring Basis |
The following tables set forth our financial instruments measured at fair value on a recurring basis by level within the fair value hierarchy at June 30, 2022 and December 31, 2021:
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June 30, 2022 |
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Fair Value
Hierarchy Level |
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Amortized
Cost |
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Gross
Unrealized Gains |
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Gross
Unrealized Losses |
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Fair
Value |
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Assets |
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(in thousands) |
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Cash and cash equivalents: |
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Cash |
Level 1 |
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$ |
164,147 |
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$ |
— |
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$ |
— |
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$ |
164,147 |
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Money market funds |
Level 1 |
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20,107 |
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— |
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— |
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20,107 |
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U.S. Treasury securities |
Level 1 |
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— |
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— |
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— |
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— |
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Commercial paper |
Level 2 |
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47,441 |
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— |
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(11 |
) |
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47,430 |
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U.S. government agency securities |
Level 2 |
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6,490 |
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— |
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(1 |
) |
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6,489 |
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Total cash and cash equivalents |
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238,185 |
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— |
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(12 |
) |
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238,173 |
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Investments: |
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U.S. Treasury securities |
Level 1 |
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45,090 |
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— |
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(278 |
) |
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44,812 |
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Commercial paper |
Level 2 |
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31,874 |
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— |
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(43 |
) |
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31,831 |
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Corporate debt |
Level 2 |
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21,183 |
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— |
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(317 |
) |
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20,866 |
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Asset-backed securities |
Level 2 |
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10,280 |
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— |
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(34 |
) |
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10,246 |
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U.S. government agency securities |
Level 2 |
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15,653 |
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— |
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(220 |
) |
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15,433 |
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Total investments |
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124,080 |
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— |
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(892 |
) |
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123,188 |
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Total assets measured at fair value |
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$ |
362,265 |
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$ |
— |
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$ |
(904 |
) |
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$ |
361,361 |
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December 31, 2021 |
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Fair Value
Hierarchy Level |
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Amortized
Cost |
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Gross
Unrealized Gains |
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Gross
Unrealized Losses |
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Fair
Value |
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Assets |
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(in thousands) |
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Cash and cash equivalents: |
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Cash |
Level 1 |
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$ |
27,834 |
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$ |
— |
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$ |
— |
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$ |
27,834 |
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Money market funds |
Level 1 |
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17,555 |
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— |
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— |
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17,555 |
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Commercial paper |
Level 2 |
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23,597 |
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— |
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(1 |
) |
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23,596 |
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Total cash and cash equivalents |
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68,986 |
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— |
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(1 |
) |
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68,985 |
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Investments: |
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U.S. Treasury securities |
Level 1 |
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45,290 |
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— |
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(73 |
) |
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45,217 |
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Commercial paper |
Level 2 |
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61,941 |
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— |
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(22 |
) |
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61,919 |
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Corporate debt |
Level 2 |
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58,498 |
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— |
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(74 |
) |
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58,424 |
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Asset-backed securities |
Level 2 |
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13,899 |
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— |
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(25 |
) |
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13,874 |
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U.S. government agency securities |
Level 2 |
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24,714 |
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— |
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(46 |
) |
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24,668 |
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Total investments |
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204,342 |
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— |
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(240 |
) |
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204,102 |
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Total assets measured at fair value |
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$ |
273,328 |
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$ |
— |
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$ |
(241 |
) |
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$ |
273,087 |
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