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Short-term Investments | 12 Months Ended
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Dec. 31, 2023
Investments [Abstract] |
Short-term Investments | Short-term Investments During 2023, the Company renamed the Marketable securities financial statement line item to Short-term investments in the Consolidated Balances Sheets to more accurately align with the Company’s current investment portfolio. The amortized cost, unrealized gain (loss), and estimated fair value of the Company's short-term investments consisted of the following:
| December 31, 2023
| Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Estimated Fair Value
Short-term Investments |  |  |  |  |  |  |
U.S. treasury securities | $ | 239,297 |  |  | $ | 970 |  |  | $ | (11) |  |  | $ | 240,256 |
U.S. agency securities | 15,000 |  |  | — |  |  | (7) |  |  | 14,993 |
Asset-backed securities | 10,438 |  |  | 62 |  |  | — |  |  | 10,500 |
Corporate debt securities | 2,981 |  |  | — |  |  | (6) |  |  | 2,975 |
Total short-term investments | $ | 267,716 |  |  | $ | 1,032 |  |  | $ | (24) |  |  | $ | 268,724 |
| December 31, 2022
| Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Estimated Fair Value
Short-term Investments |  |  |  |  |  |  |
U.S. treasury securities | $ | 384,951 |  |  | $ | — |  |  | $ | (6,949) |  |  | $ | 378,002 |
U.S. agency securities | 29,012 |  |  | 47 |  |  | — |  |  | 29,059 |
Commercial paper | 28,815 |  |  | — |  |  | — |  |  | 28,815 |
Corporate debt securities | 5,049 |  |  | — |  |  | (67) |  |  | 4,982 |
Total short-term investments | $ | 447,827 |  |  | $ | 47 |  |  | $ | (7,016) |  |  | $ | 440,858 |
The Company had four and thirteen separate short-term investments in unrealized loss positions as of December 31, 2023 and 2022, respectively. The Company does not intend to sell any short-term investments that have an unrealized losses at December 31, 2023, and it is not more likely than not that the Company will be required to sell such securities before any anticipated recovery of the entire amortized cost basis. There were no material realized gains or losses from short-term investments that were reclassified out of accumulated other comprehensive income for the years ended December 31, 2023 and 2022. For short-term investments that have unrealized losses, the Company evaluated whether (i) the Company has the intention to sell any of these investments, (ii) it is not more likely than not that the Company will be required to sell any of these available-for-sale debt securities before recovery of the entire amortized cost basis and (iii) the decline in the fair value of the investment is due to credit or non-credit related factors. Based on this evaluation, the Company determined that for its short-term investments, there were no material credit or non-credit related impairments as of December 31, 2023 and 2022. The following table summarizes the stated maturities of the Company’s short-term investments:
| December 31, 2023 |  | December 31, 2022
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Due within one year | $ | 90,438 |  |  | $ | 90,533 |  |  | $ | 447,827 |  |  | $ | 440,858 |
Due after one year through five years | 177,278 |  | 178,191 |  | — |  | —
Total | $ | 267,716 |  |  | $ | 268,724 |  |  | $ | 447,827 |  |  | $ | 440,858 |

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