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Cash Equivalents and Marketable Securities
9 Months Ended
Sep. 30, 2023
Cash and Cash Equivalents [Abstract]  
Cash Equivalents and Marketable Securities Cash Equivalents and Marketable Securities
Cash equivalents and marketable securities consisted of the following at September 30, 2023 (in thousands):
Amortized
Cost
Allowance
for Credit
Losses
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Cash equivalents and marketable securities:
Government agency securities$171,404 $— $— $(1,197)$170,207 
U.S. Treasuries143,261 — 22 (12)143,271 
Money market funds82,537 — — — 82,537 
Corporate notes/bonds38,066 — — (254)37,812 
Commercial paper12,598 — — (11)12,587 
Total $447,866 $— $22 $(1,474)$446,414 
Cash equivalents and marketable securities consisted of the following at December 31, 2022 (in thousands):
Amortized
Cost
Allowance
for Credit
Losses
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Cash equivalents and marketable securities:
Government agency securities$161,902 $— $11 $(2,556)$159,357 
Money market funds141,522 — — — 141,522 
Corporate notes/bonds57,575 — (694)56,883 
U.S. Treasuries50,019 — (229)49,793 
Commercial paper29,954 — (141)29,816 
Total$440,972 $— $19 $(3,620)$437,371 
As of September 30, 2023, the Company did not hold any marketable securities that had been in an unrealized loss position for more than twelve months. Furthermore, the Company has determined that there were no material changes in the credit risk of the securities. As of September 30, 2023, the Company holds 29 securities with an aggregate fair value of $96.8 million that had remaining maturities greater than one year.
There were no realized gains or losses on available-for-sale securities during the nine months ended September 30, 2023 or 2022.