The following table presents amortized cost, gross unrealized gains and losses, fair value by major security type and balance sheet classification as of September 30, 2024 and December 31, 2023:


As of September 30, 2024
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Short-Term Investments		Long-Term Investments
Cash	$	—	$	—	$	—	$	63,300	$	63,300	$	—	$	—

Level 1
Commercial paper	$	2,936	$	—	$	—	$	2,936	$	—	$	2,936	$	—
Money market funds	791,109		—		—		791,109		791,109		—		—
Subtotal	$	794,045	$	—	$	—	$	794,045	$	791,109	$	2,936	$	—

Level 2
Corporate debt securities	$	65,901	$	—	$	(75)	$	65,826	$	—	$	11,573	$	54,328
U.S. Treasury securities	11,845		—		(1)		11,844		—		11,845
Subtotal	$	77,746	$	—	$	(76)	$	77,670	$	—	$	23,418	$	54,328

Level 3
Investment in SAFE	$	—	$	—	$	—	$	1,000	$	—	$	—	$	1,000
Subtotal	$	—	$	—	$	—	$	1,000	$	—	$	—	$	1,000
Total	$	871,791	$	—	$	(76)	$	936,015	$	854,409	$	26,354	$	55,328


As of December 31, 2023
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Short-Term Investments		Long-Term Investments
Cash	—		—		—		50,373		50,373		—		—

Level 1
Money market funds	$	697,237	$	—	$	—	$	697,237	$	697,237	$	—	$	—





Total	$	697,237	$	—	$	—	$	747,610	$	747,610	$	—	$	—