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

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values:

 

 

December 31, 2023

 

 

 

Total

 

 

Quoted
Prices in
Active Markets
for Identical
Assets (Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

180,124

 

 

$

180,124

 

 

$

 

 

$

 

U.S. Treasury securities - original maturity less than three months

 

 

12,371

 

 

 

 

 

 

12,371

 

 

 

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

48,011

 

 

 

 

 

 

48,011

 

 

 

 

Total

 

$

240,506

 

 

$

180,124

 

 

$

60,382

 

 

$

 

 

 

 

 

 

December 31, 2022

 

 

 

Total

 

 

Quoted
Prices in
Active Markets
for Identical
Assets (Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

81,607

 

 

$

81,607

 

 

$

 

 

$

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

24,940

 

 

 

 

 

 

24,940

 

 

 

 

Total

 

$

106,547

 

 

$

81,607

 

 

$

24,940

 

 

$

 

Schedule of Debt Securities Classified as Available-for-Sale Investments the Company records unrealized gains or losses resulting from changes in fair value between measurement dates as a component of other comprehensive income:

 

 

 

December 31, 2023

 

 

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair value

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

743

 

 

$

 

 

$

 

 

$

743

 

Money market funds

 

 

180,124

 

 

 

 

 

 

 

 

 

180,124

 

U.S. Treasury securities - original maturity less than three months

 

 

12,367

 

 

 

4

 

 

 

 

 

 

12,371

 

Included in cash and cash equivalents

 

 

193,234

 

 

 

4

 

 

 

 

 

 

193,238

 

U.S. Treasury securities - due in one year or less

 

 

 

 

 

 

 

 

 

 

 

 

Included in short-term investments

 

 

47,976

 

 

 

39

 

 

 

(4

)

 

 

48,011

 

Total

 

$

241,210

 

 

$

43

 

 

$

(4

)

 

$

241,249

 

 

 

 

December 31, 2022

 

 

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair value

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

 

 

 

 

 

 

 

 

 

 

 

Included in cash and cash equivalents

 

$

81,607

 

 

$

 

 

$

 

 

$

81,607

 

U.S. Treasury securities - due in one year or less

 

 

 

 

 

 

 

 

 

 

 

 

Included in short-term investments

 

 

24,987

 

 

 

 

 

 

(47

)

 

 

24,940

 

Total

 

$

106,594

 

 

$

 

 

$

(47

)

 

$

106,547