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Marketable Securities

9 Months Ended

Sep. 30, 2024

Marketable Securities

Marketable Securities

4. Marketable Securities

The following table summarizes the Company’s investments as of September 30, 2024 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Estimated

​

Cost

Gains

Losses

Fair Value

Marketable securities available-for-sale:

​

​

​

​

​

​

​

​

​

U.S. treasury obligations and government agency securities

​

$

62,546

​

$

128

​

$

—

​

$

62,674

Total available-for-sale securities

​

$

62,546

​

$

128

​

$

—

​

$

62,674

​

The following table summarizes the Company’s investments as of December 31, 2023 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Estimated

​

Cost

Gains

Losses

Fair Value

Marketable securities available-for-sale:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. treasury obligations and government agency securities

​

$

177,991

​

$

93

​

$

(1)

​

$

178,083

Total available-for-sale securities

​

$

177,991

​

$

93

​

$

(1)

​

$

178,083

​

The aggregate fair value of marketable securities with unrealized losses was $0 and $11.9 million at September 30, 2024 and December 31, 2023, respectively. At September 30, 2024 and December 31, 2023, no investments and three 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 and government agency securities 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 nine months ended September 30, 2024.

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 940
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/940-320/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph b
-Publisher SEC

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/320/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
-Paragraph 6B
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-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6B
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B

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-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
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