Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Fair Value Assets Measured on Recurring Basis

The following tables present the Company’s financial assets that are measured at fair value on a recurring basis using the above input categories (in thousands):


	As of September 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	24,208	$	—	$	—	$	24,208

Total cash equivalents		24,208		—		—		24,208
Marketable securities:
U.S. and foreign commercial paper		—		58,720		—		58,720
U.S. and foreign corporate debt securities		—		24,681		—		24,681
Supranational debt securities		—		12,814		—		12,814
U.S. agency securities		—		2,950		—		2,950
U.S. treasury securities		—		23,559		—		23,559

Total marketable securities		—		122,724		—		122,724

Total assets measured at fair value	$	24,208	$	122,724	$	—	$	146,932


	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	85,638	$	—	$	—	$	85,638

Total cash equivalents		85,638		—		—		85,638
Marketable securities:
U.S. and foreign commercial paper		—		28,760		—		28,760
U.S. and foreign corporate debt securities		—		23,535		—		23,535
Asset-backed securities		—		8,522		—		8,522
U.S. treasury securities		—		7,979		—		7,979

Total marketable securities		—		68,796		—		68,796

Total assets measured at fair value	$	85,638	$	68,796	$	—	$	154,434

Summary of Marketable Available-for-Sale Securities

Unrealized gains and losses of the Company’s

available-for-sale

marketable securities as of September 30, 2022 and December 31, 2021 are presented in the tables below (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
As of September 30, 2022:
Cash equivalents:
Money market funds	$	24,208	$	—	$	—		$	24,208

Total cash equivalents		24,208		—		—			24,208
Current marketable securities:
U.S. and foreign commercial paper		58,720		—		—			58,720
U.S. and foreign corporate debt securities		24,996		—		(315	)		24,681
Supranational debt securities		12,904		—		(90	)		12,814
US. agency securities		3,000		—		(50	)		2,950
U.S. treasury securities		23,678		—		(119	)		23,559

Total current marketable securities		123,298		—		(574	)		122,724

Total marketable securities	$	147,506	$	—	$	(574	)	$	146,932


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
As of December 31, 2021:
Cash equivalents:
Money market funds	$	85,638	$	—	$	—		$	85,638

Total cash equivalents		85,638		—		—			85,638
Current marketable securities:
U.S. and foreign commercial paper		28,760		—		—			28,760
U.S. and foreign corporate debt securities		15,476		—		(8	)		15,468
Asset-backed securities		8,524		—		(2	)		8,522
U.S. treasury securities		7,982		—		(3	)		7,979

Total current marketable securities		60,742		—		(13	)		60,729
Non-current marketable securities:
U.S. corporate debt securities		8,067		2		(2	)		8,067

Total marketable securities	$	154,447	$	2	$	(15	)	$	154,434

Marketable Securities

The following table shows the fair value of the Company’s marketable securities, by contractual maturity, as of September 30, 2022 (in thousands):


Due less than 1 year	$	122,724
Due between 1 and 2 years		—

Total fair value	$	122,724