The following is a summary of the Company’s cash equivalents and short-term investments:


	June 30, 2024
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Estimated Fair Value
	(In thousands)
Level 1:
Money market funds	$	161	$	—	$	—	$	161
Level 2:
Commercial paper	127,060		—		(69)		126,991
U.S. government and agency securities	38,133		1		(22)		38,112
Total cash equivalents and short-term investments	165,354		1		(91)		165,264
Less: Cash equivalents	(118,814)		—		56		(118,758)
Total short-term investments	$	46,540	$	1	$	(35)	$	46,506


	December 31, 2023
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Estimated Fair Value
	(In thousands)
Level 1:
Money market funds	$	10,204	$	—	$	—	$	10,204
Level 2:
Commercial paper	64,693		—		(35)		64,658
U.S. government and agency securities	17,616		4		(17)		17,603

Total cash equivalents and short-term investments	92,513		4		(52)		92,465
Less: Cash equivalents	(70,972)		—		33		(70,939)
Total short-term investments	$	21,541	$	4	$	(19)	$	21,526