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Marketable Debt and Equity Securities (Tables) | 12 Months Ended
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Dec. 31, 2021
Marketable Debt and Equity Securities |
Schedule of marketable securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ |  | Amortized |  | Unrealized | ​ | Unrealized |  | ​
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Fair Value
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money Market Funds | ​ | $ | 123,892 | ​ | $ | — | ​ | $ | — | ​ | $ | 123,892
Corporate Securities | ​ | ​ | 144,584 | ​ | ​ | — | ​ | ​ | (166) | ​ | ​ | 144,418
Government Securities | ​ | ​ | 311,148 | ​ | ​ | 1 | ​ | ​ | (1,335) | ​ | ​ | 309,814
​ | ​ | $ | 579,624 | ​ | $ | 1 | ​ | $ | (1,501) | ​ | $ | 578,124
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reported as | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 123,892
Marketable securities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 454,232
Total investments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 578,124
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ |  | Amortized |  | Unrealized | ​ | Unrealized |  | ​
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Fair Value
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money Market Funds | ​ | $ | 158,937 | ​ | $ | — | ​ | $ | — | ​ | $ | 158,937
Corporate Securities | ​ | ​ | 119,782 | ​ | ​ | 57 | ​ | ​ | (6) | ​ | ​ | 119,833
Government Securities | ​ | ​ | 315,319 | ​ | ​ | 37 | ​ | ​ | (3) | ​ | ​ | 315,353
​ | ​ | $ | 594,038 | ​ | $ | 94 | ​ | $ | (9) | ​ | $ | 594,123
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reported as | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 158,937
Marketable securities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 435,186
Total investments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 594,123
Schedule of maturities of marketable securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized |  | Estimated
​ | ​ | Cost | ​ | Fair Value
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​
Mature in one year or less | ​ | $ | 153,871 | ​ | $ | 153,767
Mature within two years | ​ | ​ | 301,861 | ​ | ​ | 300,465
​ | ​ | $ | 455,732 | ​ | $ | 454,232
Schedule of unrealized losses on available-for-sale investments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | Less than 12 months | ​ | 12 months or greater
​ | ​ | ​ | Fair value | ​ | ​ | Unrealized losses | ​ | ​ | Fair value | ​ | ​ | Unrealized losses
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate Securities | ​ | $ | 50,337 | ​ | $ | (51) | ​ | $ | 45,872 | ​ | $ | (115)
Government Securities | ​ | ​ | 39,909 | ​ | ​ | (54) | ​ | ​ | 254,593 | ​ | ​ | (1,281)
​ | ​ | $ | 90,246 | ​ | $ | (105) | ​ | $ | 300,465 | ​ | $ | (1,396)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020
​ | ​ | Less than 12 months | ​ | 12 months or greater
​ | ​ | ​ | Fair value | ​ | ​ | Unrealized losses | ​ | ​ | Fair value | ​ | ​ | Unrealized losses
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate Securities | ​ | $ | 15,843 | ​ | $ | (6) | ​ | $ | — | ​ | $ | —
Government Securities | ​ | ​ | 40,802 | ​ | ​ | (3) | ​ | ​ | — | ​ | ​ | —
​ | ​ | $ | 56,645 | ​ | $ | (9) | ​ | $ | — | ​ | $ | —
Schedule of equity securities with readily determinable fair value | The Company’s equity securities include securities with a readily determinable fair value. These investments are carried at fair value with changes in fair value recognized each period and reported within other income (expense). Equity securities with a readily determinable fair value and their fair values (in thousands) as of December 31, 2021 and 2020 are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value |  | Fair Value
​ | ​ | December 31, 2021 | ​ | December 31, 2020
Astria Common Stock | ​ | $ | 3,449 | ​ | $ | —
INmune Common Stock | ​ | ​ | 19,233 | ​ | ​ | —
Viridian Common Stock | ​ | ​ | 14,178 | ​ | ​ | 5,303
​ | ​ | $ | 36,860 | ​ | $ | 5,303
Schedule of equity securities without readily determinable fair value |
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying Value |  | Carrying Value
​ | ​ | December 31, 2021 | ​ | December 31, 2020
Astria Preferred Stock | ​ | $ | 312 | ​ | $ | —
Zenas Preferred Stock | ​ | ​ | 30,950 | ​ | ​ | 16,071
​ | ​ | $ | 31,262 | ​ | $ | 16,071
Schedule of net gains and losses | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2021 | ​ | 2020
​ | ​ | ​
Net gains recognized on equity securities | ​ | $ | 39,289 | ​ | $ | 105
Less: net gains recognized on equity securities redeemed | ​ | ​ | 18,301 | ​ |  | 801
Unrealized gain (losses) recognized on equity securities | ​ | $ | 20,988 | ​ | $ | (696)

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