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CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES (Tables)

6 Months Ended

Jun. 30, 2024

Cash and Cash Equivalents [Abstract]

Summary of Cash and Cash Equivalents and Marketable Securities

Cash and cash equivalents and marketable securities consisted of the following as of June 30, 2024 and December 31, 2023:


		June 30, 2024				December 31, 2023
Cash and cash equivalents		$	340,911			$	162,518
Marketable securities, current			155,844				82,255
Marketable securities, non-current			46,411				79,247
Total cash and cash equivalents and marketable securities		$	543,166			$	324,020

Schedule of Cash Equivalents and Marketable Securities

As of June 30, 2024, cash equivalents and marketable securities consisted of the following:


		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value				Cash Equivalents				Marketable Securities
Money market accounts		$	310,368			$	—			$	—			$	310,368			$	310,368			$	—
Certificates of deposit			30,147				14				(2	)			30,159				—				30,159
Commercial paper			15,824				—				(12	)			15,812				—				15,812
Corporate debt securities			71,602				38				(160	)			71,480				—				71,480
Yankee bonds			5,297				—				(8	)			5,289				—				5,289
U.S. Treasury securities			58,085				—				(409	)			57,676				—				57,676
Mortgage- and asset-backed securities			21,819				24				(5	)			21,838				—				21,838
Total		$	513,142			$	76			$	(596	)		$	512,622			$	310,368			$	202,254

Summary of Cash Equivalents and Marketable Securities with Unrealized Losses

The following table presents the Company’s marketable securities with unrealized losses by investment category and the length of time the marketable securities have been in a continuous loss position as of June 30, 2024:


		In Loss Position for Less than 12 Months								In Loss Position for Greater than 12 Months								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Certificates of deposit		$	4,221			$	(2	)		$	—			$	—			$	4,221			$	(2	)
Commercial paper			14,558				(12	)			—				—				14,558				(12	)
Corporate debt securities			45,974				(157	)			2,831				(3	)			48,805				(160	)
Yankee bonds			4,922				(8	)			—				—				4,922				(8	)
U.S. Treasury securities			—				—				57,676				(409	)			57,676				(409	)
Mortgage- and asset-backed securities			8,083				(4	)			54				(1	)			8,137				(5	)
Total		$	77,758			$	(183	)		$	60,561			$	(413	)		$	138,319			$	(596	)

Summary of Contractual Maturities of Cash Equivalents and Marketable Securities

The following table summarizes the contractual maturities of the Company’s cash equivalents and marketable securities as of June 30, 2024:


		Amortized Cost				Fair Value
Due within one year		$	466,737			$	466,211
Due within one to two years			46,405				46,411
Total		$	513,142			$	512,622