| Summary of Available-For-Sale Securities Recorded in Cash and Cash Equivalents or Marketable Securities |
The following table is a summary of available-for-sale securities recorded in cash and cash equivalents or marketable securities in the Company’s condensed consolidated balance sheets (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
|
|
Amortized Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Fair Value |
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury money market funds |
|
$ |
61,978 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
61,978 |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities |
|
|
89,548 |
|
|
|
— |
|
|
|
(497 |
) |
|
|
89,051 |
|
Commercial paper |
|
|
122,562 |
|
|
|
— |
|
|
|
(571 |
) |
|
|
121,991 |
|
U.S. agency bonds |
|
|
15,000 |
|
|
|
— |
|
|
|
(112 |
) |
|
|
14,888 |
|
Total available-for-sale securities |
|
$ |
289,088 |
|
|
$ |
— |
|
|
$ |
(1,180 |
) |
|
$ |
287,908 |
|
Cash |
|
|
|
|
|
|
|
|
|
|
|
2,475 |
|
Total cash, cash equivalent and marketable securities |
|
|
|
|
|
|
|
|
|
|
$ |
290,383 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2021 |
|
|
|
Amortized Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Fair Value |
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury money market funds |
|
$ |
60,375 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
60,375 |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities |
|
|
82,204 |
|
|
|
— |
|
|
|
(98 |
) |
|
|
82,106 |
|
Commercial paper |
|
|
46,678 |
|
|
|
13 |
|
|
|
(4 |
) |
|
|
46,687 |
|
Corporate debt securities |
|
|
15,486 |
|
|
|
— |
|
|
|
(5 |
) |
|
|
15,481 |
|
U.S. agency bonds |
|
|
1,200 |
|
|
|
— |
|
|
|
(1 |
) |
|
|
1,199 |
|
Total available-for-sale securities |
|
$ |
205,943 |
|
|
$ |
13 |
|
|
$ |
(108 |
) |
|
$ |
205,848 |
|
Cash |
|
|
|
|
|
|
|
|
|
|
|
2,507 |
|
Total cash, cash equivalent and marketable securities |
|
|
|
|
|
|
|
|
|
|
$ |
208,355 |
|
|
| Summary of Gross Unrealized Losses and Fair Value by Major Security Type for Available-For-Sale Securities in Unrealized Loss Position |
The following table displays additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of September 30, 2022 and December 31, 2021 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
|
December 31, 2021 |
|
|
|
Less than 12 consecutive months |
|
|
Less than 12 consecutive months |
|
|
|
Fair Value |
|
|
Unrealized Losses |
|
|
Fair Value |
|
|
Unrealized Losses |
|
U.S. Treasury securities |
|
$ |
89,051 |
|
|
$ |
(497 |
) |
|
$ |
82,106 |
|
|
$ |
(98 |
) |
Commercial paper |
|
|
121,991 |
|
|
|
(571 |
) |
|
|
13,734 |
|
|
|
(4 |
) |
Corporate debt securities |
|
|
— |
|
|
|
— |
|
|
|
15,481 |
|
|
|
(5 |
) |
U.S. agency bonds |
|
|
14,888 |
|
|
|
(112 |
) |
|
|
1,199 |
|
|
|
(1 |
) |
Total |
|
$ |
225,930 |
|
|
$ |
(1,180 |
) |
|
$ |
112,520 |
|
|
$ |
(108 |
) |
|
| Summary of Amortized Cost and Estimated Fair Value of Available-for-sale Securities by Contractual Maturity |
As of September 30, 2022, the amortized cost and estimated fair value of the Company’s available-for-sale securities by contractual maturity are shown below (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Amortized |
|
|
Estimated |
|
Available-for-sale securities maturing: |
|
Cost |
|
|
Fair Value |
|
In one year or less |
|
$ |
289,088 |
|
|
$ |
287,908 |
|
Total available-for-sale securities |
|
$ |
289,088 |
|
|
$ |
287,908 |
|
|