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Marketable Securities
 6 Months Ended
Jun. 30, 2023
Marketable Securities  
Marketable Securities

4. Marketable Securities

The following table summarizes the Company’s investments as of June 30, 2023 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Estimated

​

    

Cost

    

Gains

    

Losses

    

Fair Value

Marketable securities available-for-sale:

​

​

  

​

​

​

​

​

  

​

​

  

U.S. Treasury obligations

​

$

140,733

​

$

15

​

$

(78)

​

$

140,670

Total available-for-sale securities

​

$

140,733

​

$

15

​

$

(78)

​

$

140,670

​

The following table summarizes the Company’s investments as of December 31, 2022 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Estimated

​

    

Cost

    

Gains

    

Losses

    

Fair Value

Marketable securities available-for-sale:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasury obligations

​

$

212,970

​

$

—

​

$

(884)

​

$

212,086

Total available-for-sale securities

​

$

212,970

​

$

—

​

$

(884)

​

$

212,086

​

The aggregate fair value of marketable securities with unrealized losses was $85.0 million and $212.1 million at June 30, 2023 and December 31, 2022, respectively. At June 30, 2023 and December 31, 2022, 14 investments and 23 investments, respectively, were in an unrealized loss position. All such investments have been in an unrealized loss position for less than a year and these losses are considered temporary. The Company has the ability and intent to hold these investments until a recovery of their amortized cost, which may not occur until maturity. The Company believes that U.S. Treasury obligations are subject to minimal credit risk. As a result, the Company did not record any charges for credit-related impairments for its available-for-sale securities for the three and six months ended June 30, 2023.