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INVESTMENTS
6 Months Ended
Jun. 30, 2025
INVESTMENTS.  
INVESTMENTS

3.INVESTMENTS

The following table summarizes the Company’s investments at June 30, 2025. The Company held no short-term or long-term investments at December 31, 2024.

    

    

    

    

    

Continuous

    

Continuous

Gross

Gross

Unrealized

Unrealized

Unrealized

Unrealized

Loss Position

Loss Position

Amortized

Holding

Holding

Fair

less than

greater than

June 30, 2025

    

Cost

    

Gains

    

Losses

    

Value

    

12 Months

    

12 Months

Available-for-sale

Short-term:

Commercial paper

$

27,549

$

$

$

27,549

$

$

Certificates of deposit

 

8,334

 

 

 

8,334

 

 

U.S. treasuries

 

105,900

 

20

 

 

105,920

 

 

Corporate bonds

 

3,450

 

 

 

3,450

 

 

Long-term:

U.S. treasuries

 

33,929

 

57

 

 

33,986

 

 

Corporate bonds

 

103,939

 

133

 

 

104,072

 

Total

$

283,101

$

210

$

$

283,311

$

$

During the three- and six-months ended June 30, 2025 and 2024, realized gains or losses recognized on the sale of investments were not significant.

The Company’s investments at June 30, 2025 carried investment grade credit ratings.

The following table summarizes the underlying contractual maturities of the Company’s investments at June 30, 2025. The Company held no short-term or long-term investments at December 31, 2024.

    

June 30, 2025

    

Amortized Cost

    

Fair Value

Less than 1 year:

  

 

  

Commercial paper

$

27,549

$

27,549

Certificates of deposit

 

8,334

 

8,334

U.S. treasuries

 

105,900

 

105,920

Corporate bonds

 

3,450

 

3,450

Due 1 - 10 years:

 

  

 

  

U.S. treasuries

 

33,929

 

33,986

Corporate bonds

 

103,939

 

104,072

Total

$

283,101

$

283,311