Annual report pursuant to Section 13 and 15(d)

Subsequent Events

Subsequent Events
12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On March 10, 2023, SVB was closed by the California Department of Financial Protection and Innovation, and the FDIC was appointed as receiver. Thereafter, the FDIC transferred all deposits of SVB to a newly created bridge bank, named Silicon Valley Bridge Bank, N.A., providing all depositors access to their money beginning on March 13, 2023. As of March 15, 2023, our cash held in deposit accounts at Silicon Valley Bridge Bank, N.A., represented less than 1% of our cash and cash equivalents and short-term investments, which is considered to be immaterial to our liquidity.
Additionally, Silicon Valley Bridge Bank, N.A. has announced that it will be fully honoring existing credit facilities. As such, the Company believes that the closure of SVB will not impact the availability of its line of credit with SVB.