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Cash, Cash Equivalents and Short-Term Investments (Tables) | 3 Months Ended
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Mar. 31, 2024
Cash, Cash Equivalents and Short-Term Investments |
Schedule of cash, cash equivalents and short-term investments | Cash, cash equivalents and short-term investments consisted of the following as of March 31, 2024 and December 31, 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
​ |  | 2024 |  | 2023
Cash | ​ | $ | 42,582 | ​ | $ | 40,979
Cash equivalents: | ​ |  | ​ | ​ | ​ | ​
Money market mutual fund | ​ |  | 7,081 | ​ | ​ | 5,367
Total cash and cash equivalents | ​ |  | 49,663 | ​ | ​ | 46,346
Short-term investments: | ​ |  | ​ | ​ | ​ | ​
U.S. Treasury notes and bills | ​ |  | 126,738 | ​ | ​ | 136,665
Mutual funds | ​ |  | 100,407 | ​ | ​ | 101,085
Corporate debt securities | ​ | ​ | 171,736 | ​ | ​ | 172,658
Total short-term investments | ​ |  | 398,881 | ​ | ​ | 410,409
Cash, cash equivalents and short-term investments | ​ | $ | 448,544 | ​ | $ | 456,755
Schedule of available-for-sale investments | The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at March 31, 2024 were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​
​ |  | Cost |  | Gains |  | Losses |  | Fair Value
U.S. Treasury notes | ​ | $ | 126,776 | ​ | $ | 321 | ​ | $ | (359) | ​ | $ | 126,738
Corporate debt securities | ​ | ​ | 171,437 | ​ | 572 | ​ | (273) | ​ | 171,736
Total available-for-sale investments | ​ | $ | 298,213 | ​ | $ | 893 | ​ | $ | (632) | ​ | $ | 298,474
The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at December 31, 2023 were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​
​ |  | Cost |  | Gains |  | Losses |  | Fair Value
U.S. Treasury notes | ​ | $ | 133,989 |  | $ | 2,697 | ​ | $ | (21) | ​ | $ | 136,665
Corporate debt securities | ​ | ​ | 168,592 |  | ​ | 4,067 |  | ​ | (1) | ​ | ​ | 172,658
Total available-for-sale investments | ​ | $ | 302,581 |  | $ | 6,764 | ​ | $ | (22) | ​ | $ | 309,323
Schedule of investments based on stated contractual maturities | The following table summarizes the fair value of available-for-sale investments based on stated contractual maturities as of March 31, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Amortized Cost |  | Fair Value
Due within one year | ​ | $ | 102,367 | ​ | $ | 102,975
Due after one year through five years | ​ | ​ | 195,846 | ​ | ​ | 195,499
Due after five years through ten years | ​ |  | — | ​ |  | —
Total | ​ | $ | 298,213 | ​ | $ | 298,474
​ The following table summarizes the fair value of available-for-sale investments based on stated contractual maturities as of December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Amortized Cost |  | Fair Value
Due within one year | ​ | $ | 101,252 |  | $ | 103,802
Due after one year through five years | ​ |  | 201,329 |  |  | 205,521
Due after five years through ten years | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 302,581 |  | $ | 309,323
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 March 31, 2024:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 | ​ | $ | 54,463 | ​ | $ | (298) | ​ | $ | 72,275 | ​ | $ | (61) | ​ | $ | 126,738 | ​ | $ | (359)
Corporate debt securities | ​ |  | 24,244 | ​ |  | (20) | ​ |  | 147,492 | ​ |  | (254) | ​ |  | 171,736 | ​ |  | (274)
Total | ​ | $ | 78,707 | ​ | $ | (318) | ​ | $ | 219,767 | ​ | $ | (315) | ​ | $ | 298,474 | ​ | $ | (633)
Schedule of unrealized gains (losses) related to equity securities held | Unrealized gains (losses) during the three months ended March 31, 2024 and 2023 related to equity securities held at March 31, 2024 and 2023 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended March 31,
​ |  | 2024 |  | 2023
Net losses recognized during the three months on equity securities | ​ | $ | (678) | ​ | $ | —
Less: net gains (losses) recognized during the year on equity securities sold during the period | ​ |  | — | ​ |  | 1,510
Unrealized gains (losses) recognized during the three months on equity securities still held at March 31, 2024 and 2023 | ​ | $ | (678) | ​ | $ | 1,510

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