| Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis |
The following tables set forth the financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy as of June 30, 2023 and December 31, 2022 (in thousands):
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June 30, 2023 |
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Total Fair
Value |
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Level 1 |
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Level 2 |
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Level 3 |
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Cash equivalents: |
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Money market funds (1) |
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$ |
128,506 |
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$ |
128,506 |
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$ |
— |
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$ |
— |
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Commercial paper (1) |
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- |
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— |
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— |
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— |
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Total cash equivalents |
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128,506 |
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128,506 |
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— |
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— |
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Marketable securities: |
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U.S. treasuries(2) |
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4,426 |
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4,426 |
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— |
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— |
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Commercial paper(2) |
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58,071 |
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— |
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58,071 |
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— |
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U.S. agency securities(2) |
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53,709 |
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— |
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53,709 |
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— |
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Asset-backed securities(2) |
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1,953 |
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— |
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1,953 |
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— |
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Total marketable securities |
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118,159 |
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4,426 |
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113,733 |
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— |
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Total cash equivalents and marketable securities |
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$ |
246,665 |
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$ |
132,932 |
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$ |
113,733 |
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$ |
— |
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December 31, 2022 |
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Total Fair
Value |
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Level 1 |
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Level 2 |
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Level 3 |
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Cash equivalents: |
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Money market funds (1) |
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$ |
45,739 |
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$ |
45,739 |
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$ |
— |
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$ |
— |
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Commercial paper (1) |
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1,991 |
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— |
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1,991 |
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— |
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Total cash equivalents |
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47,730 |
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45,739 |
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1,991 |
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— |
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Marketable securities: |
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U.S. treasuries(2) |
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65,391 |
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65,391 |
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— |
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— |
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Commercial paper(2) |
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115,061 |
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— |
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115,061 |
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— |
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U.S. agency securities(2) |
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53,455 |
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— |
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53,455 |
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— |
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Asset-backed securities(2) |
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1,914 |
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— |
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1,914 |
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— |
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Total marketable securities |
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235,821 |
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65,391 |
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170,430 |
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— |
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Total cash equivalents and marketable securities |
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$ |
283,551 |
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$ |
111,130 |
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$ |
172,421 |
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$ |
— |
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(1)Included within cash and cash equivalents on the condensed balance sheet.
(2)Included within investments in marketable securities, current and investments in marketable securities, non-current on the condensed balance sheet.
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