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Investments (Tables)
12 Months Ended
Dec. 31, 2021
Investments Debt And Equity Securities [Abstract]  
Schedule of Available-for-sale Investments

Available-for-sale investments consisted of the following as of December 31, 2021 and 2020 (in thousands):

 

 

 

December 31, 2021

 

 

 

Amortized Cost

 

 

Unrealized Gain

 

 

Unrealized Loss

 

 

Estimated Fair Value

 

Short-term marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government debt securities

 

$

186,752

 

 

$

4

 

 

$

(109

)

 

$

186,647

 

Corporate bonds

 

 

27,363

 

 

 

 

 

 

(14

)

 

 

27,349

 

Total short-term marketable securities

 

$

214,115

 

 

$

4

 

 

$

(123

)

 

$

213,996

 

Long-term marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government debt securities

 

$

205,472

 

 

$

 

 

$

(974

)

 

$

204,498

 

Corporate bonds

 

 

12,691

 

 

 

 

 

 

(44

)

 

 

12,647

 

Total long-term marketable securities

 

$

218,163

 

 

$

 

 

$

(1,018

)

 

$

217,145

 

 

 

 

December 31, 2020

 

 

 

Amortized Cost

 

 

Unrealized Gain

 

 

Unrealized Loss

 

 

Estimated Fair Value

 

Short-term marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government debt securities

 

$

552,539

 

 

$

723

 

 

$

(10

)

 

$

553,252

 

Corporate bonds

 

 

11,497

 

 

 

86

 

 

 

(2

)

 

 

11,581

 

Total short-term marketable securities

 

$

564,036

 

 

$

809

 

 

$

(12

)

 

$

564,833

 

Long-term marketable securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government debt securities

 

$

118,429

 

 

$

98

 

 

$

(2

)

 

$

118,525

 

Total long-term marketable securities

 

$

118,429

 

 

$

98

 

 

$

(2

)

 

$

118,525

 

Schedule of Gross Unrealized Holding Losses and Fair Value for Investments in Unrealized Loss Position

The following table presents the gross unrealized holding losses and fair value for investments in an unrealized loss position, and the length of time individual securities have been in a continuous loss position, as of December 31, 2021 (in thousands):

 

 

 

Less Than 12 Months

 

 

12 Months Or Greater

 

 

 

Fair Value

 

 

Unrealized Loss

 

 

Fair Value

 

 

Unrealized Loss

 

U.S. government debt securities

 

$

345,014

 

 

$

(1,083

)

 

$

 

 

$

 

Corporate bonds

 

 

32,886

 

 

 

(58

)

 

 

 

 

 

 

Total available-for-sale securities

 

$

377,900

 

 

$

(1,141

)

 

$

 

 

$