Cash, Cash Equivalents and Short-Term Investments

Schedule of available-for-sale debt securities

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale debt securities by type of security at December 31, 2022 were as follows (in thousands):


	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
U.S. Treasury notes	$	199,626	$	5	$	(8,913)	$	190,718
Corporate debt securities		210,764		1,243		(15,774)		196,233
Total available-for-sale investments	$	410,390	$	1,248	$	(24,687)	$	386,951

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale debt securities by type of security at December 31, 2021 were as follows (in thousands):


	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
U.S. Treasury notes	$	226,020	$	12		(2,136)	$	223,896
Corporate debt securities		157,527		—		(1,731)		155,796
Total available-for-sale investments	$	383,547	$	12	$	(3,867)	$	379,692

Schedule of gross unrealized losses and fair value of available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

The following table shows the Company’s gross unrealized losses and fair value of available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2022:


	Less than 12 Months				12 Months or More				Total
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
U.S. Treasury notes	$	19,466	$	(297)	$	171,252	$	(8,616)	$	190,718	$	(8,913)
Corporate debt securities		61,492		(2,218)		134,740		(13,556)		196,233		(15,774)
Total	$	80,958	$	(2,515)	$	305,992	$	(22,172)	$	386,951	$	(24,687)