| Cash and Cash Equivalents and Investments |
Cash and Cash Equivalents and InvestmentsThe fair value of cash and cash equivalents and investments held are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of March 31, 2025 | | | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Estimated Fair Value | | | | (in thousands) | | Cash and cash equivalents | | $ | 62,888 | | | $ | — | | | $ | — | | | $ | 62,888 | | | Securities maturing within one year: | | | | | | | | | | U.S. treasury securities | | 110,114 | | | 21 | | | (3) | | | 110,132 | | | Corporate debt securities | | 21,812 | | | 10 | | | (3) | | | 21,819 | | | Total short-term investments | | $ | 131,926 | | | $ | 31 | | | $ | (6) | | | $ | 131,951 | | | Total cash and cash equivalents and short-term investments | | $ | 194,814 | | | $ | 31 | | | $ | (6) | | | $ | 194,839 | | | | | | | | | | | | | | As of December 31, 2024 | | | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Estimated Fair Value | | | | | | (in thousands) | | | | Cash and cash equivalents | | $ | 66,656 | | | $ | — | | | $ | — | | | $ | 66,656 | | | Securities maturing within one year: | | | | | | | | | | U.S. treasury securities | | 127,884 | | | 106 | | | — | | | 127,990 | | | Corporate debt securities | | 43,299 | | | 30 | | | (18) | | | 43,311 | | | Total short-term investments | | $ | 171,183 | | | $ | 136 | | | $ | (18) | | | $ | 171,301 | | | Total cash and cash equivalents and short-term investments | | $ | 237,839 | | | $ | 136 | | | $ | (18) | | | $ | 237,957 | |
As of March 31, 2025 and December 31, 2024, Lexicon’s investments in an unrealized loss position had an estimated fair value of $57.3 million and $12.9 million, respectively. There were no realized gains or losses during either of the three month periods ended March 31, 2025 and 2024.
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