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CASH EQUIVALENTS AND MARKETABLE SECURITIES
 6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
CASH EQUIVALENTS AND MARKETABLE SECURITIES CASH EQUIVALENTS AND MARKETABLE SECURITIES
The Company had no cash equivalents or marketable securities as of June 30, 2024. The table below summarizes the Company’s cash equivalents and marketable securities as of December 31, 2023 (in thousands):
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
December 31, 2023
Assets
Cash equivalents:
Money market funds$2,508 $— $— $2,508 
Total2,508 — — 2,508 
Marketable securities:
U.S. government-sponsored entity debt securities22,347 219 — 22,566 
Commercial paper securities2,825 2 (1)2,826 
Corporate debt securities1,399 6 — 1,405 
Asset-backed securities2,368 9 — 2,377 
U.S. treasury bills5,599 — (6)5,593 
Certificates of deposit1,026 5 — 1,031 
Total35,564 241 (7)35,798 
Total cash equivalents and marketable securities$38,072 $241 $(7)$38,306 
The fair value of marketable securities by contractual maturity were as follows (in thousands):
December 31,
2023
Maturing in one year or less$10,855 
Maturing after one year through five years24,943 
Total$35,798 
Realized gains and losses on the sales of investments were not material during the three and six months ended June 30, 2024. There were no realized gains and losses on the sales of investments during the three and six months ended June 30, 2023. Total unrealized gains for securities with net gains in accumulated other comprehensive loss were not material during the three and six months ended June 30, 2024 and 2023.
The Company manages credit risk associated with its investment portfolio through its investment policy, which limits purchases to high-quality issuers and also limits the amount of its portfolio that can be invested in a single issuer. The Company did not record an allowance for credit losses related to its marketable securities for the three and six months ended June 30, 2024 and 2023.
The Company had no unrealized losses related to its marketable securities for the three and six months ended June 30, 2024. The Company had no material unrealized losses related to its marketable securities for the three and six months ended June 30, 2023. The Company had no material unrealized losses, individually and in the aggregate, for marketable securities that were in a continuous unrealized loss position for greater than 12 months as of June 30, 2024 and December 31, 2023. These unrealized losses were not attributed to credit risk and were associated with changes in market conditions. The Company periodically reviews its marketable securities for indications of credit losses. No significant facts or circumstances had arisen to indicate that there had been any significant deterioration in the creditworthiness of the issuers of the securities held by the Company. Based on the Company’s review of these securities, the Company determined that no allowance for credit losses related to its marketable securities was required at either June 30, 2024 or December 31, 2023.
For the periods the Company had investment in debt securities, the Company also considered whether it was more likely than not that the Company will be required to sell the debt securities before recovery of their amortized cost basis. No impairment charges were recorded during the three months ended June 30, 2024 and 2023.