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Investments | 6 Months Ended
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Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Fair Values and Gross Unrealized Gains and Losses on Investments The following table summarizes adjusted cost, gross unrealized gains and losses, and fair value by significant investment category. The Company’s U.S. treasury and commercial paper investments with original maturities greater than 90 days are classified as held-to-maturity investments, and commercial paper investments with original maturities of 90 days or less are classified as cash equivalents on its condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023, respectively.
| Amortized Cost |  | Gross Unrealized |  | Fair Value |  | Net Carrying Value
|  | Gains |  | Losses |  |
As of June 30, 2024 | (In Thousands)
Cash equivalents |  |  |  |  |  |  |  |  |
Commercial paper | $ | 4,937 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 4,943 |  |  | $ | 4,937 |
Total cash equivalents | $ | 4,937 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 4,943 |  |  | $ | 4,937 |
Investments |  |  |  |  |  |  |  |  |
U.S. treasury securities | $ | 3,502 |  |  | $ | — |  |  | $ | (2) |  |  | $ | 3,500 |  |  | $ | 3,502 |
Commercial paper | 10,871 |  |  | $ | — |  |  | (11) |  |  | 10,860 |  |  | 10,871 |
Total investments | $ | 14,373 |  |  | $ | — |  |  | $ | (13) |  |  | $ | 14,360 |  |  | $ | 14,373 |
| Amortized Cost |  | Gross Unrealized |  | Fair Value |  | Net Carrying Value
|  | Gains |  | Losses |  |
As of December 31, 2023 | (In Thousands)
Cash equivalents |  |  |  |  |  |  |  |  |
Commercial paper | $ | 4,976 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 4,986 |  |  | $ | 4,976 |
Total cash equivalents | $ | 4,976 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 4,986 |  |  | $ | 4,976 |
Investments |  |  |  |  |  |  |  |  |
Commercial Paper | $ | 16,799 |  |  | $ | — |  |  | $ | (10) |  |  | $ | 16,789 |  |  | $ | 16,799 |
Total investments | $ | 16,799 |  |  | $ | — |  |  | $ | (10) |  |  | $ | 16,789 |  |  | $ | 16,799 |
Scheduled Maturities The amortized cost and fair value of held-to-maturity securities as of June 30, 2024 and December 31, 2023, by contractual maturity, are shown below.
As of June 30, 2024 | Amortized Cost |  | Fair Value
| (In Thousands)
Within one year | $ | 14,373 |  |  | $ | 14,360 |
After one year through five years | — |  |  | — |
After 5 years through 10 years | — |  |  | — |
After 10 years | — |  |  | — |
Total investments | $ | 14,373 |  |  | $ | 14,360 |
As of December 31, 2023 | Amortized Cost |  | Fair Value
| (In Thousands)
Within one year | $ | 16,799 |  |  | $ | 16,789 |
After one year through five years | — |  |  | — |
After 5 years through 10 years | — |  |  | — |
After 10 years | — |  |  | — |
Total investments | $ | 16,799 |  |  | $ | 16,789 |
Aging of Unrealized Losses For those securities in an unrealized loss position, the length of time the securities were in such a position is as follows:
| Less than 12 Months |  | Total
| # of Securities |  | Fair Value |  | Unrealized Losses |  | # of Securities |  | Fair Value |  | Unrealized Losses
As of June 30, 2024 | (Dollars In Thousands)
Investments |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities | 1 |  |  | $ | 3,500 |  |  | $ | (2) |  |  | 1 |  |  | $ | 3,500 |  |  | $ | (2) |
Commercial paper | 3 |  |  | 10,860 |  |  | (11) |  |  | 3 |  |  | 10,860 |  |  | (11) |
Total | 4 |  |  | $ | 14,360 |  |  | $ | (13) |  |  | 4 |  |  | $ | 14,360 |  |  | $ | (13) |
| Less than 12 Months |  | Total
| # of Securities |  | Fair Value |  | Unrealized Losses |  | # of Securities |  | Fair Value |  | Unrealized Losses
As of December 31, 2023 | (Dollars In Thousands)
Investments |  |  |  |  |  |  |  |  |  |  |
Commercial paper | 4 |  |  | $ | 16,789 |  |  | $ | (10) |  |  | 4 |  |  | $ | 16,789 |  |  | $ | (10) |
Total | 4 |  |  | $ | 16,789 |  |  | $ | (10) |  |  | 4 |  |  | $ | 16,789 |  |  | $ | (10) |

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