| Summary of Marketable Securities Accounted for Available-for-Sale Securities |
The following tables summarize the Company’s marketable securities accounted for as available-for-sale securities (in thousands, except years):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2024 |
|
|
|
Maturity |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Estimated |
|
|
|
(in years) |
|
cost |
|
|
gains |
|
|
losses |
|
|
fair value |
|
US treasury securities |
|
1 or less |
|
$ |
54,294 |
|
|
$ |
— |
|
|
$ |
(75 |
) |
|
$ |
54,219 |
|
US government agency securities |
|
1 or less |
|
|
40,655 |
|
|
|
— |
|
|
|
(22 |
) |
|
|
40,633 |
|
Corporate debt securities |
|
1 or less |
|
|
39,656 |
|
|
|
— |
|
|
|
(59 |
) |
|
|
39,597 |
|
Commercial paper |
|
1 or less |
|
|
101,213 |
|
|
|
5 |
|
|
|
(57 |
) |
|
|
101,161 |
|
US treasury securities |
|
1-2 |
|
|
29,611 |
|
|
|
15 |
|
|
|
(7 |
) |
|
|
29,619 |
|
US government agency securities |
|
1-2 |
|
|
22,213 |
|
|
|
5 |
|
|
|
(1 |
) |
|
|
22,217 |
|
Total |
|
|
|
$ |
287,642 |
|
|
$ |
25 |
|
|
$ |
(221 |
) |
|
$ |
287,446 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
|
|
Maturity |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Estimated |
|
|
|
(in years) |
|
cost |
|
|
gains |
|
|
losses |
|
|
fair value |
|
US treasury securities |
|
1 or less |
|
$ |
93,377 |
|
|
$ |
74 |
|
|
$ |
(148 |
) |
|
$ |
93,303 |
|
US government agency securities |
|
1 or less |
|
|
26,783 |
|
|
|
45 |
|
|
|
(4 |
) |
|
|
26,824 |
|
Corporate debt securities |
|
1 or less |
|
|
10,719 |
|
|
|
15 |
|
|
|
— |
|
|
|
10,734 |
|
Commercial paper |
|
1 or less |
|
|
88,356 |
|
|
|
68 |
|
|
|
(10 |
) |
|
|
88,414 |
|
US treasury securities |
|
1-2 |
|
|
9,605 |
|
|
|
37 |
|
|
|
— |
|
|
|
9,642 |
|
Total |
|
|
|
$ |
228,840 |
|
|
$ |
239 |
|
|
$ |
(162 |
) |
|
$ |
228,917 |
|
|
| Summary of Fair Values and Gross Unrealized Losses for Available-for-sale Securities |
The following tables present fair values and gross unrealized losses for those available-for-sale securities that were in an unrealized loss position as of June 30, 2024 and December 31, 2023, aggregated by category and the length of time that the securities have been in a continuous loss position (in thousands):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2024 |
|
|
|
Unrealized losses less than 12 months |
|
|
Unrealized losses 12 months or greater |
|
|
Total |
|
|
|
Fair value |
|
|
Unrealized losses |
|
|
Fair value |
|
|
Unrealized losses |
|
|
Fair value |
|
|
Unrealized losses |
|
US treasury securities |
|
$ |
49,730 |
|
|
$ |
(25 |
) |
|
$ |
22,280 |
|
|
$ |
(57 |
) |
|
$ |
72,010 |
|
|
$ |
(82 |
) |
US government agency securities |
|
|
45,875 |
|
|
|
(23 |
) |
|
|
— |
|
|
|
— |
|
|
|
45,875 |
|
|
|
(23 |
) |
Corporate debt securities |
|
|
39,597 |
|
|
|
(59 |
) |
|
|
— |
|
|
|
— |
|
|
|
39,597 |
|
|
|
(59 |
) |
Commercial paper |
|
|
73,182 |
|
|
|
(57 |
) |
|
|
— |
|
|
|
— |
|
|
|
73,182 |
|
|
|
(57 |
) |
Total |
|
$ |
208,384 |
|
|
$ |
(164 |
) |
|
$ |
22,280 |
|
|
$ |
(57 |
) |
|
$ |
230,664 |
|
|
$ |
(221 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
|
|
Unrealized losses less than 12 months |
|
|
Unrealized losses 12 months or greater |
|
|
Total |
|
|
|
Fair value |
|
|
Unrealized losses |
|
|
Fair value |
|
|
Unrealized losses |
|
|
Fair value |
|
|
Unrealized losses |
|
US treasury securities |
|
$ |
74,912 |
|
|
$ |
(148 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
74,912 |
|
|
$ |
(148 |
) |
US government agency securities |
|
|
6,950 |
|
|
|
(4 |
) |
|
|
— |
|
|
|
— |
|
|
|
6,950 |
|
|
|
(4 |
) |
Corporate debt securities |
|
|
748 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
748 |
|
|
|
— |
|
Commercial paper |
|
|
22,944 |
|
|
|
(10 |
) |
|
|
— |
|
|
|
— |
|
|
|
22,944 |
|
|
|
(10 |
) |
Total |
|
$ |
105,554 |
|
|
$ |
(162 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
105,554 |
|
|
$ |
(162 |
) |
|