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Marketable Securities (Tables)
12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Summary of Marketable Securities Held

The following table summarizes the Company’s marketable securities held at December 31, 2024 (in thousands):

 

 

 

Amortized Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

Commercial paper

 

$

181,095

 

 

$

210

 

 

$

(9

)

 

$

181,296

 

Corporate notes

 

 

100,175

 

 

 

103

 

 

 

(113

)

 

 

100,165

 

U.S. Treasury securities

 

 

164,491

 

 

 

289

 

 

 

(10

)

 

 

164,770

 

U.S. Government securities

 

 

114,552

 

 

 

235

 

 

 

(26

)

 

 

114,761

 

Corporate equity securities

 

 

7,781

 

 

 

 

 

 

 

 

 

7,781

 

Total

 

$

568,094

 

 

$

837

 

 

$

(158

)

 

$

568,773

 

The following table summarizes the Company’s marketable securities held at December 31, 2023 (in thousands):

 

 

Amortized Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

Commercial paper

 

$

285,054

 

 

$

250

 

 

$

(15

)

 

$

285,289

 

Corporate notes

 

 

23,462

 

 

 

63

 

 

 

 

 

 

23,525

 

U.S. Treasury securities

 

 

151,805

 

 

 

436

 

 

 

(94

)

 

 

152,147

 

U.S. Government securities

 

 

271,181

 

 

 

328

 

 

 

(364

)

 

 

271,145

 

Corporate equity securities

 

 

21,875

 

 

 

 

 

 

 

 

 

21,875

 

Total

 

$

753,377

 

 

$

1,077

 

 

$

(473

)

 

$

753,981