Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured on Recurring Basis
The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy as of June 30, 2024 (in thousands):
Level 1 Level 2 Level 3 Total
Cash equivalents
Money market funds $ 40,253  $ —  $ —  $ 40,253 
Short-term investments
US government and agency securities 33,461  —  33,461 
Commercial paper —  13,922  —  13,922 
Total $ 73,714  $ 13,922  $ —  $ 87,636 
The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2023 (in thousands):
Level 1 Level 2 Level 3 Total
Cash equivalents
Money market funds $ 35,375  $ —  $ —  $ 35,375 
Commercial paper —  —  —  — 
Short-term investments
US government and agency securities 25,083  11,526  —  36,609 
Commercial paper —  21,479  —  21,479 
Total $ 60,458  $ 33,005  $ —  $ 93,463 
Schedule of Debt Securities, Available-for-Sale
The following tables summarize the Company's short-term investments on the consolidated balance sheets as of June 30, 2024 and December 31, 2023 (in thousands):
June 30, 2024
Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value
Short-term investments
US government and agency securities $ 33,492  $ 1  $ (32) $ 33,461 
Commercial paper 13,936  —  (14) 13,922 
Total $ 47,428  $ 1  $ (46) $ 47,383 
December 31, 2023
Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value
Short-term investments
US government and agency securities $ 36,568  $ 48  $ (7) $ 36,609 
Commercial paper 21,477  11  (9) 21,479 
Total $ 58,045  $ 59  $ (16) $ 58,088 
Schedule of Cash and Cash Equivalents
The following tables summarize the Company’s cash and cash equivalents on the consolidated balance sheets as of June 30, 2024 and December 31, 2023 (in thousands):
June 30, 2024
Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value
Cash $ 11,406  $ —  $ —  $ 11,406 
Cash equivalents
Money market funds 40,253  —  —  40,253 
Total $ 51,659  $ —  $ —  $ 51,659 
December 31, 2023
Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value
Cash $ 15,381  $ —  $ —  $ 15,381 
Cash equivalents
Money market funds 35,375  —  —  35,375 
Total $ 50,756  $ —  $ —  $ 50,756