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Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Carrying Amounts and Estimated Fair Values of the Company's Financial Instruments
The Company’s financial assets measured at fair value on a recurring basis were as follows:
 Total
Fair value measurement as of March 31, 2024
Level 1Level 2Level 3
(in thousands)
Cash equivalents:
Money market funds$15,446 $15,446 $— $— 
U.S. Treasury securities199,094 199,094 — — 
Total$214,540 $214,540 $ $ 
 Total
Fair value measurement as of December 31, 2023
Level 1Level 2Level 3
(in thousands)
Cash equivalents:
Money market funds$12,671 $12,671 $— $— 
U.S. Treasury securities199,121 199,121 — — 
Total$211,792 $211,792 $ $ 
Summary of Fair Value Assets and Liabilities Measured on Recurring Basis
The following table provides the fair value of financial assets that are not measured at fair value:
March 31, 2024December 31, 2023
(in thousands)Carrying valueFair valueCarrying valueFair value
Liabilities:
Debt$143,198 $143,198 $144,045 $144,045 
Total$143,198 $143,198 $144,045 $144,045