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Supplementary Balance Sheet Information
 6 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplementary Balance Sheet Information Supplementary Balance Sheet Information
Investments available for sale

Investments available for sale consist of the following:

As of June 30, 2023
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Market Value
Maturity less than 1 year:
Certificate of deposit$8,005 $— $(14)$7,991 
Corporate debt securities14,465 5 (53)14,417 
Commercial paper11,102 — (13)11,089 
U.S. government agencies7,841 — (39)7,802 
Total maturity less than 1 year41,413 5 (119)41,299 
Maturity 1 to 2 years:
Corporate debt securities8,711 16 (82)8,645 
U.S. treasury securities20,366 — (251)20,115 
Total maturity 1 to 2 years29,077 16 (333)28,760 
Total short-term investments$70,490 $21 $(452)$70,059 


As of December 31, 2022
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Market Value
Maturity less than 1 year:
Certificate of deposit$16,101 $3 $(81)$16,023 
Corporate debt securities44,806 8 (275)44,539 
Commercial paper13,203 4 (20)13,187 
Non U.S. government2,284 4 — 2,288 
U.S. treasury securities7,905 — (18)7,887 
Total maturity less than 1 year84,299 19 (394)83,924 
Maturity 1 to 2 years:
Corporate debt securities5,016 1 (21)4,996 
Total maturity 1 to 2 years5,016 1 (21)4,996 
Total short-term investments$89,315 $20 $(415)$88,920 

We periodically review our portfolio of debt securities to determine if any investment is impaired due to credit loss or other potential valuation concerns. For debt securities where the fair value of the investment is less than the amortized cost basis, we have assessed at the individual security level for various quantitative factors including, but not limited to, the nature of the investments, changes in credit ratings, interest rate fluctuations, industry analyst reports, and the severity of impairment. Unrealized losses in investments available for sale debt securities at June 30, 2023, were substantially due to increases in interest rates, not due to increased credit risks associated with specific securities. Accordingly, we have not recorded an allowance for credit losses. It is not more likely than not that we will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity.
Investments available for sale that have been in a continuous unrealized loss position for greater than one-year consist of the following:
As of June 30, 2023
(in thousands)Fair Market ValueGross Unrealized Loss
Corporate debt securities$2,963 $(24)

Property and equipment

Property and equipment consist of the following:
 
(in thousands)As of June 30,
2023		As of December 31,
2022
Furniture and office equipment$1,081 $1,066 
Leasehold improvements2,568 2,560 
Laboratory equipment1,264 1,056 
4,913 4,682 
Less—accumulated depreciation and amortization(3,557)(3,413)
Property and equipment, net$1,356 $1,269 

Accrued Liabilities

Accrued liabilities consisted of the following:

(in thousands)As of June 30,
2023		As of December 31,
2022
Accrued compensation$2,175 $1,849 
Clinical trials2,364 2,333 
Research agreements and services543 509 
Director fees125 125 
Patent, license and other fees83 24 
Other accrued liabilities211 337 
Total accrued liabilities$5,501 $5,177