Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

v3.24.3
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

5. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

 

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of September 30, 2024 (in thousands):

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

14,164

 

 

$

—

 

 

$

—

 

 

$

14,164

 

Corporate debt securities

 

 

—

 

 

 

1,724

 

 

 

—

 

 

 

1,724

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

—

 

 

 

8,498

 

 

 

—

 

 

 

8,498

 

U.S. government agency securities

 

 

—

 

 

 

27,614

 

 

 

—

 

 

 

27,614

 

Corporate debt securities

 

 

—

 

 

 

103,827

 

 

 

—

 

 

 

103,827

 

 

$

14,164

 

 

$

141,663

 

 

$

—

 

 

$

155,827

 

 

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2023 (in thousands):

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash Equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

7,833

 

 

$

—

 

 

$

—

 

 

$

7,833

 

Corporate debt securities

 

 

—

 

 

 

1,862

 

 

 

—

 

 

 

1,862

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

 

—

 

 

 

7,182

 

 

 

—

 

 

 

7,182

 

 

$

7,833

 

 

$

9,044

 

 

$

—

 

 

$

16,877

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities

 

$

—

 

 

$

—

 

 

$

39

 

 

$

39