| Fair Value of Financial Assets Measured on Recurring Basis |
The following table sets forth the fair value of the Company’s financial assets measured on a recurring basis by level within the fair value hierarchy:
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March 31, 2023 |
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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(in thousands) |
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Assets: |
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Money market funds |
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$ |
46,137 |
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$ |
46,137 |
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|
$ |
- |
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|
$ |
- |
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Commercial paper |
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|
73,834 |
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|
- |
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|
73,834 |
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|
|
- |
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Corporate debt securities |
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|
17,863 |
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|
- |
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|
|
17,863 |
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|
|
- |
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Equity securities |
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|
25,028 |
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|
|
25,028 |
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|
- |
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|
|
- |
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Asset-backed securities |
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6,562 |
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- |
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|
6,562 |
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|
|
- |
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U.S. government securities |
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|
94,399 |
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|
94,399 |
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|
- |
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|
|
- |
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U.S. agency securities |
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|
6,750 |
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|
- |
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|
|
6,750 |
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|
- |
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Supranational debt securities |
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|
4,552 |
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|
- |
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|
4,552 |
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|
|
- |
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Total |
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$ |
275,125 |
|
|
$ |
165,564 |
|
|
$ |
109,561 |
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|
$ |
- |
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December 31, 2022 |
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Total |
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|
Level 1 |
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Level 2 |
|
|
Level 3 |
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|
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(in thousands) |
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Assets: |
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|
|
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|
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|
|
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Money market funds |
|
$ |
36,486 |
|
|
$ |
36,486 |
|
|
$ |
- |
|
|
$ |
- |
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Commercial paper |
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|
87,140 |
|
|
|
- |
|
|
|
87,140 |
|
|
|
- |
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Corporate debt securities |
|
|
36,429 |
|
|
|
- |
|
|
|
36,429 |
|
|
|
- |
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Equity securities |
|
|
32,020 |
|
|
|
32,020 |
|
|
|
- |
|
|
|
- |
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Asset-backed securities |
|
|
14,016 |
|
|
|
- |
|
|
|
14,016 |
|
|
|
- |
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U.S. government securities |
|
|
91,251 |
|
|
|
91,251 |
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|
|
- |
|
|
|
- |
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U.S. agency securities |
|
|
16,607 |
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|
|
- |
|
|
|
16,607 |
|
|
|
- |
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Supranational debt securities |
|
|
16,481 |
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|
|
- |
|
|
|
16,481 |
|
|
|
- |
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Total |
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$ |
330,430 |
|
|
$ |
159,757 |
|
|
$ |
170,673 |
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|
$ |
- |
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