| Fair Value of Financial Assets and Liabilities Measured on Recurring Basis |
The following table sets forth the fair value of the Company’s financial assets and liabilities measured on a recurring basis by level within the fair value hierarchy:
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December 31, 2023 |
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Total |
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|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
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|
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(in thousands) |
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Assets: |
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|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
56,397 |
|
|
$ |
56,397 |
|
|
$ |
- |
|
|
$ |
- |
|
Commercial paper |
|
|
82,152 |
|
|
|
- |
|
|
|
82,152 |
|
|
|
- |
|
Corporate debt securities |
|
|
61,894 |
|
|
|
- |
|
|
|
61,894 |
|
|
|
- |
|
Equity securities |
|
|
41,937 |
|
|
|
41,937 |
|
|
|
- |
|
|
|
- |
|
Asset-backed securities |
|
|
10,505 |
|
|
|
- |
|
|
|
10,505 |
|
|
|
- |
|
U.S. government securities |
|
|
113,652 |
|
|
|
113,652 |
|
|
|
- |
|
|
|
- |
|
U.S. agency securities |
|
|
4,961 |
|
|
|
- |
|
|
|
4,961 |
|
|
|
- |
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Total |
|
$ |
371,498 |
|
|
$ |
211,986 |
|
|
$ |
159,512 |
|
|
$ |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2022 |
|
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
|
(in thousands) |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
36,486 |
|
|
$ |
36,486 |
|
|
$ |
- |
|
|
$ |
- |
|
Commercial paper |
|
|
87,140 |
|
|
|
- |
|
|
|
87,140 |
|
|
|
- |
|
Corporate debt securities |
|
|
36,429 |
|
|
|
- |
|
|
|
36,429 |
|
|
|
- |
|
Equity securities |
|
|
32,020 |
|
|
|
32,020 |
|
|
|
- |
|
|
|
- |
|
Asset-backed securities |
|
|
14,016 |
|
|
|
- |
|
|
|
14,016 |
|
|
|
- |
|
U.S. government securities |
|
|
91,251 |
|
|
|
91,251 |
|
|
|
- |
|
|
|
- |
|
U.S. agency securities |
|
|
16,607 |
|
|
|
- |
|
|
|
16,607 |
|
|
|
- |
|
Supranational debt securities |
|
|
16,481 |
|
|
|
- |
|
|
|
16,481 |
|
|
|
- |
|
Total |
|
$ |
330,430 |
|
|
$ |
159,757 |
|
|
$ |
170,673 |
|
|
$ |
- |
|
|