4. Cash Equivalents and Marketable Securities

Cash equivalents and marketable securities consisted of the following as of June 30, 2026 and December 31, 2025 (in thousands):

 

 

 

There were no sales of marketable securities during the three and six months ended June 30, 2026. As of June 30, 2026, the Company held 36 debt securities that were in an unrealized loss position for less than 12 months with an aggregate fair value of $208.8 million. As of June 30, 2026, the Company held 3 debt securities that were in an unrealized loss position for greater than 12 months with a fair value of $12.0 million. As of June 30, 2026, the aggregate fair value of marketable securities with a remaining contractual maturity of greater than one year was $14.9 million.

The Company has the intent and ability to hold its debt securities until recovery. The Company did not record any charges for credit-related impairments for its marketable securities for the three and six months ended June 30, 2026.

4. Cash Equivalents and Marketable Securities

Cash equivalents and marketable securities consisted of the following as of December 31, 2025 and December 31, 2024 (in thousands):

 

 

 

There were no sales of marketable securities during the year ended December 31, 2025. As of December 31, 2025, the Company held 6 debt securities that were in an unrealized loss position for less than 12 months with an aggregate fair value of $21.2 million. As of December 31, 2025, the Company held no debt securities that were in an unrealized loss position for greater than 12 months. As of December 31, 2025, the aggregate fair value of marketable securities with a remaining contractual maturity of greater than one year was $4.7 million.

The Company has the intent and ability to hold its debt securities until recovery. As a result, the Company did not record any charges for credit-related impairments for its marketable securities for the year ended December 31, 2025.