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v3.23.1

Marketable Securities (Tables) | 3 Months Ended
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Mar. 31, 2023
Marketable Securities [Abstract] |
Summary of Debt Securities, Available-for-sale | The following table summarizes the Company’s marketable debt securities, classified as available-for-sale:
|  | Fair Value Measurements as of March 31, 2023 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Loss |  |  | Fair Value |
|  | (in thousands) |
Marketable debt securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury bills |  | $ | 144,564 |  |  | $ | 9 |  |  | $ | (1,558 | ) |  | $ | 143,015 |
U.S. government agency bonds |  |  | 134,031 |  |  |  | 45 |  |  |  | (704 | ) |  |  | 133,372 |
|  | $ | 278,595 |  |  | $ | 54 |  |  | $ | (2,262 | ) |  | $ | 276,387 |
|  | Fair Value Measurements as of December 31, 2022 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Loss |  |  | Fair Value |
|  | (in thousands) |
Marketable debt securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury bills |  | $ | 201,834 |  |  | $ | 21 |  |  | $ | (2,610 | ) |  | $ | 199,245 |
U.S. government agency bonds |  |  | 108,036 |  |  |  | — |  |  |  | (1,116 | ) |  |  | 106,920 |
|  | $ | 309,870 |  |  | $ | 21 |  |  | $ | (3,726 | ) |  | $ | 306,165 |
Summary of Fair value and Gross Unrealized Losses on Securities | The following table summarizes the fair value and gross unrealized losses aggregated by category and the length of time that individual securities have been in an unrealized loss position:
| March 31, 2023 |
| Less than twelve months |  |  | Greater than twelve months |  |  | Total |
| Fair value |  |  | Unrealized loss |  |  | Fair value |  |  | Unrealized loss |  |  | Fair value |  |  | Unrealized loss |
| (in thousands) |
U.S. Treasury bills | $ | - |  |  | $ | - |  |  | $ | 87,287 |  |  | $ | (1,558 | ) |  | $ | 87,287 |  |  | $ | (1,558 | )
U.S. government agency bonds |  | 94,820 |  |  |  | (477 | ) |  |  | 20,769 |  |  |  | (226 | ) |  |  | 115,589 |  |  |  | (703 | )
| $ | 94,820 |  |  | $ | (477 | ) |  | $ | 108,055 |  |  | $ | (1,784 | ) |  | $ | 202,876 |  |  | $ | (2,262 | )
| December 31, 2022 |
| Less than twelve months |  |  | Greater than twelve months |  |  | Total |
| Fair value |  |  | Unrealized loss |  |  | Fair value |  |  | Unrealized loss |  |  | Fair value |  |  | Unrealized loss |
| (in thousands) |
U.S. Treasury bills | $ | 44,213 |  |  | $ | (640 | ) |  | $ | 84,997 |  |  | $ | (1,970 | ) |  | $ | 129,210 |  |  | $ | (2,610 | )
U.S. government agency bonds |  | 68,919 |  |  |  | (627 | ) |  |  | 38,000 |  |  |  | (489 | ) |  |  | 106,919 |  |  |  | (1,116 | )
| $ | 113,132 |  |  | $ | (1,267 | ) |  | $ | 122,997 |  |  | $ | (2,459 | ) |  | $ | 236,129 |  |  | $ | (3,726 | )

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- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=121590138&loc=SL82922954-210456 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=124269663&loc=SL82922888-210455 + Details
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