Investments in Marketable Securities and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

The carrying amount, unrealized gain and loss, and fair value of investments in marketable securities by major security type were as follows:


	December 31, 2021
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value		Fair Value Hierarchy
	(In thousands)
Cash equivalents:
Money market funds	$	2,357	$	—	$	—	$	2,357	Level 1
Commercial paper	2,150		—		—		2,150		Level 2


Total cash equivalents	4,507		—		—		4,507
Marketable securities:
U.S. treasury and agency securities	269,393		—		(745)		268,648		Level 2
Commercial paper	27,187		—		(7)		27,180		Level 2
Debt securities	33,366		—		(47)		33,319		Level 2
Certificates of deposit	5,000		—		—		5,000		Level 2
Total marketable securities	334,946		—		(799)		334,147
Restricted cash, non-current:
Certificates of deposit	335		—		—		335		Level 2
Total	$	339,788	$	—	$	(799)	$	338,989


	December 31, 2020
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value		Fair Value Hierarchy
	(In thousands)
Cash equivalents:
Money market funds	$	24,036	$	—	$	—	$	24,036	Level 1
Commercial paper	1,150		—		—		1,150		Level 2


Total cash equivalents	25,186		—		—		25,186
Marketable securities:
U.S. treasury and agency securities	89,342		5		(5)		89,342		Level 2
Commercial paper	2,848		—		—		2,848		Level 2
Debt securities	17,774		—		(6)		17,768		Level 2
Certificates of deposit	673		—		—		673		Level 2
Total marketable securities	110,637		5		(11)		110,631
Total	$	135,823	$	5	$	(11)	$	135,817

The following table summarizes the stated maturities of the Company’s marketable securities:


	December 31, 2021		December 31, 2020
	(In thousands)
Due within one year	$	202,895	$	110,631
Due after one year through two years	131,252		—
Total marketable securities	$	334,147	$	110,631