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Cash, Cash Equivalents and Short-Term Investments (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2024 and December 31, 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ |  | 2024 |  | 2023
Cash | ​ | $ | 40,988 | ​ | $ | 40,979
Cash equivalents: | ​ |  | ​ | ​ | ​ | ​
Money market mutual fund | ​ |  | 5,470 | ​ | ​ | 5,367
Total cash and cash equivalents | ​ |  | 46,458 | ​ | ​ | 46,346
Short-term investments: | ​ |  | ​ | ​ | ​ | ​
U.S. Treasury notes and bills | ​ |  | 126,181 | ​ | ​ | 136,665
Mutual funds | ​ |  | 100,059 | ​ | ​ | 101,085
Corporate debt securities | ​ | ​ | 154,444 | ​ | ​ | 172,658
Total short-term investments | ​ |  | 380,684 | ​ | ​ | 410,409
Cash, cash equivalents and short-term investments | ​ | $ | 427,142 | ​ | $ | 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 June 30, 2024 were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​
​ |  | Cost |  | Gains |  | Losses |  | Fair Value
U.S. Treasury notes | ​ | $ | 125,636 | ​ | $ | 884 | ​ | $ | (339) | ​ | $ | 126,181
Corporate debt securities | ​ | ​ | 153,734 | ​ | 1,008 | ​ | (299) | ​ | 154,444
Total available-for-sale investments | ​ | $ | 279,370 | ​ | $ | 1,893 | ​ | $ | (638) | ​ | $ | 280,625
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 June 30, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Amortized Cost |  | Fair Value
Due within one year | ​ | $ | 111,715 | ​ | $ | 113,011
Due after one year through five years | ​ | ​ | 167,655 | ​ | ​ | 167,614
Due after five years through ten years | ​ |  | — | ​ |  | —
Total | ​ | $ | 279,370 | ​ | $ | 280,625
​ 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 June 30, 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 | ​ | $ | 53,340 | ​ | $ | (307) | ​ | $ | 72,841 | ​ | $ | (32) | ​ | $ | 126,181 | ​ | $ | (339)
Corporate debt securities | ​ |  | 25,928 | ​ |  | (28) | ​ |  | 128,516 | ​ |  | (270) | ​ |  | 154,444 | ​ |  | (298)
Total | ​ | $ | 79,268 | ​ | $ | (335) | ​ | $ | 201,357 | ​ | $ | (302) | ​ | $ | 280,625 | ​ | $ | (637)
Schedule of unrealized gains (losses) related to equity securities held | Unrealized gains (losses) during the six months ended June 30, 2024 and 2024 related to equity securities held at June 30, 2024 and 2023 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Six Months Ended June 30,
​ |  | 2024 |  | 2023
Net losses recognized during the six months on equity securities | ​ | $ | (1,026) | ​ | $ | (1,405)
Less: net gains (losses) recognized during the year on equity securities sold during the period | ​ |  | — | ​ |  | 1,510
Unrealized gains (losses) recognized during the six months on equity securities still held at June 30, 2024 and 2023 | ​ | $ | (1,026) | ​ | $ | 105
​

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