Annual report pursuant to Section 13 and 15(d)

FAIR VALUE

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FAIR VALUE
12 Months Ended
Dec. 31, 2021
FAIR VALUE  
FAIR VALUE

8. FAIR VALUE

The table below summarizes the fair value of our cash equivalents and short-term investments measured at fair value on a recurring basis, and are categorized based upon the lowest level of significant input to the valuations (in thousands):

Assets at Fair Value as of December 31, 2021

    

Level 1

    

Level 2

    

Level 3

    

Total

Money market funds

$

6,842

$

$

$

6,842

U.S. treasury bills

35,366

35,366

Government-sponsored enterprise securities

 

 

14,678

 

 

14,678

Corporate bonds and commercial paper

 

 

61,832

 

 

61,832

Total

$

6,842

$

111,876

$

$

118,718

Assets at Fair Value as of December 31, 2020

    

Level 1

    

Level 2

    

Level 3

    

Total

Money market funds

$

19,487

$

$

$

19,487

U.S. treasury bills

10,034

10,034

Government-sponsored enterprise securities

 

 

4,920

 

 

4,920

Corporate bonds and commercial paper

 

 

20,898

 

 

20,898

Total

$

19,487

$

35,852

$

$

55,339