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Investments
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The fair value and amortized cost of investments in short-term marketable debt securities by major security type as of March 31, 2025 and December 31, 2024 are as follows:

(in thousands)March 31, 2025
Amortized costGross unrealized gainsGross unrealized lossesFair value
Eurocommercial Papers$205,913 $2,651 $— $208,564 
Total$205,913$2,651$—$208,564
Of which classified within short-term marketable debt securities205,913 2,651 — 208,564 
(in thousands)December 31, 2024
Amortized costGross unrealized gainsGross unrealized lossesFair value
Eurocommercial Papers$204,572 $3,129 $— $207,701 
Certificates of Deposit117,305 2,278 — 119,583 
Total$321,877$5,407$—$327,284
Of which classified within cash and cash equivalents59,311 372 — 59,683 
Of which classified within short-term marketable debt securities262,566 5,035 — 267,601 

The following table presents the changes in fair values of the Company’s short-term marketable debt securities, classified as Level 2 financial assets, and recognized in accumulated other comprehensive income as of March 31, 2025 and December 31, 2024:

(in thousands)
Beginning balance, January 1, 2025$5,407 
Other comprehensive income before reclassifications2,913 
Amounts reclassified from accumulated other comprehensive income(5,669)
Ending balance, March 31, 2025$2,651

(in thousands)
Beginning balance, January 1, 2024$2,721 
Other comprehensive income before reclassifications3,748 
Amounts reclassified from accumulated other comprehensive income(3,566)
Ending balance, March 31, 2024$2,903

As of March 31, 2025, the Company’s marketable debt securities maturities are all due within one year.