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Investments (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Investments

Available-for-sale investments consisted of the following as of March 31, 2024 and December 31, 2023 (in thousands):


		March 31, 2024
		Amortized Cost				Unrealized Gain				Unrealized Loss				Estimated Fair Value
Short-term marketable securities
Commercial paper		$	10,777			$	—			$	—			$	10,777
U.S. government treasury securities			217,805				25				(129	)			217,701
Corporate bonds			9,163				—				(2	)			9,161
Total short-term marketable securities		$	237,745			$	25			$	(131	)		$	237,639


		December 31, 2023
		Amortized Cost				Unrealized Gain				Unrealized Loss				Estimated Fair Value
Short-term marketable securities
Commercial paper		$	10,630			$	—			$	—			$	10,630
U.S. government treasury and agency securities			264,214				232				(20	)			264,426
Corporate bonds			6,278				3				—				6,281
Total short-term marketable securities		$	281,122			$	235			$	(20	)		$	281,337

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 values for investments in an unrealized loss position, and the length of time individual securities have been in a continuous loss position, as of March 31, 2024 (in thousands):


		Less Than 12 Months								12 Months Or Greater
		Fair Value				Unrealized Loss				Fair Value				Unrealized Loss
U.S. government treasury securities		$	134,826			$	(129	)		$	—			$	—
Corporate bonds			6,514				(2	)			—				—
Total available-for-sale securities		$	141,340			$	(131	)		$	—			$	—