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MARKETABLE SECURITIES | 3 Months Ended
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Mar. 31, 2025
MARKETABLE SECURITIES |
MARKETABLE SECURITIES | 5. MARKETABLE SECURITIES: Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at March 31, 2025, were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Gross Unrealized | ​ | Estimated Fair
(In thousands) |  | Cost |  | Gains |  | Losses |  | Market Value
Investments due in 3 months or less: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Commercial paper | ​ | $ | 1,004 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,004
Corporate securities | ​ | ​ | 62,167 | ​ | ​ | 30 | ​ | ​ | (1) | ​ | ​ | 62,196
Total | ​ |  | 63,171 | ​ |  | 30 | ​ |  | (1) | ​ |  | 63,200
Investments due in 4-12 months: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Corporate securities | ​ | ​ | 35,875 | ​ | ​ | 102 | ​ | ​ | (14) | ​ | ​ | 35,963
Total | ​ |  | 35,875 | ​ |  | 102 | ​ |  | (14) | ​ |  | 35,963
Investments due in 12 months or greater: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Corporate securities | ​ |  | 139,181 | ​ |  | 1,367 | ​ |  | (29) | ​ |  | 140,519
Total | ​ | ​ | 139,181 | ​ |  | 1,367 | ​ | ​ | (29) | ​ |  | 140,519
Total marketable securities | ​ | $ | 238,227 | ​ | $ | 1,499 | ​ | $ | (44) | ​ | $ | 239,682
​ Accrued interest receivable was $2.7 million at March 31, 2025 and was recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet. Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at December 31, 2024, were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Gross Unrealized | ​ | Estimated Fair
(In thousands) |  | Cost |  | Gains |  | Losses |  | Market Value
Investments due in 3 months or less: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Corporate securities | ​ | $ | 10,972 | ​ | $ | 4 | ​ | $ | (3) | ​ | $ | 10,973
Total | ​ |  | 10,972 | ​ |  | 4 | ​ |  | (3) | ​ |  | 10,973
Investments due in 4-12 months: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Corporate securities | ​ |  | 87,346 | ​ |  | 159 | ​ |  | (19) | ​ |  | 87,486
Total | ​ |  | 87,346 | ​ |  | 159 | ​ |  | (19) | ​ |  | 87,486
Investments due in 12 months or greater: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Corporate securities | ​ | ​ | 149,817 | ​ |  | 860 | ​ |  | (113) | ​ |  | 150,564
Total | ​ |  | 149,817 | ​ |  | 860 | ​ |  | (113) | ​ |  | 150,564
Total marketable securities | ​ | $ | 248,135 | ​ | $ | 1,023 | ​ | $ | (135) | ​ | $ | 249,023
​ Accrued interest receivable was $2.8 million at December 31, 2024 and was recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet. The following table summarizes marketable securities classified as available-for-sale (excluding cash equivalents) in a continuous unrealized loss position for which an allowance for credit losses was not recorded at March 31, 2025:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less Than 12 Months | ​ | 12 Months or Longer | ​ | Total
​ |  | Estimated |  | Gross |  | Estimated |  | Gross |  | Estimated |  | Gross
​ | ​ | Fair Market | ​ | Unrealized | ​ | Fair Market | ​ | Unrealized | ​ | Fair Market | ​ | Unrealized
(In thousands) | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses
Corporate securities | ​ | $ | 14,659 | ​ | $ | (36) | ​ | $ | 3,416 | ​ | $ | (8) | ​ | $ | 18,075 | ​ | $ | (44)
Total marketable securities | ​ | $ | 14,659 | ​ | $ | (36) | ​ | $ | 3,416 | ​ | $ | (8) | ​ | $ | 18,075 | ​ | $ | (44)
​ In the three months ended March 31, 2025 and 2024, no unrealized losses on marketable securities were recognized in income. The Company does not intend to sell and it is unlikely that it will be required to sell the securities prior to their anticipated recovery. The issuers are high quality (investment grade) and the decline in fair value is largely due to changes in interest rates. Additionally, the issuers continue to make timely interest payments on the marketable securities with the fair value expected to recover as they reach maturity.

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