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Supplementary Balance Sheet Information
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplementary Balance Sheet Information Supplementary Balance Sheet Information
Investments available for sale

Investments available for sale consisted of the following:

As of June 30, 2024
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Market Value
Maturity less than 1 year:
Certificate of deposit$5,943 $3 $— $5,946 
Corporate debt securities12,175 7 (28)12,154 
Commercial paper2,399 — — 2,399 
U.S. treasury securities12,707 — (83)12,624 
Total maturity less than 1 year33,224 10 (111)33,123 
Maturity 1 to 2 years:
Corporate debt securities1,690 5 — 1,695 
U.S. treasury securities— — — — 
Total maturity 1 to 2 years1,690 5 — 1,695 
Total short-term investments$34,914 $15 $(111)$34,818 


As of December 31, 2023
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Market Value
Maturity less than 1 year:
Certificate of deposit$8,317 $16 $— $8,333 
Corporate debt securities10,948 8 (16)10,940 
Commercial paper6,193 9 — 6,202 
U.S. government agencies835 — (1)834 
U.S. treasury securities— — — — 
Total maturity less than 1 year26,293 33 (17)26,309 
Maturity 1 to 2 years:
Corporate debt securities8,437 6 (10)8,433 
U.S. treasury securities18,505 — (79)18,426 
Total maturity 1 to 2 years26,942 6 (89)26,859 
Total short-term investments$53,235 $39 $(106)$53,168 

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, 2024, 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 consisted of the following:
As of June 30, 2024
(in thousands)Fair Market ValueGross Unrealized Loss
Corporate debt securities$4,333 $(19)
U.S. treasury securities9,794 (72)
Total$14,127 $(91)

As of December 31, 2023
(in thousands)Fair Market ValueGross Unrealized Loss
Corporate debt securities$397 $(3)

Property and equipment

Property and equipment consisted of the following:
 
(in thousands)As of June 30,
2024		As of December 31,
2023
Furniture and office equipment$1,067 $1,067 
Leasehold improvements2,568 2,568 
Laboratory equipment1,414 1,355 
Property and equipment, gross
5,049 4,990 
Less—accumulated depreciation and amortization(3,954)(3,752)
Property and equipment, net$1,095 $1,238 

Accrued Liabilities

Accrued liabilities consisted of the following:

(in thousands)As of June 30,
2024		As of December 31,
2023
Clinical trials$3,832 $4,309 
Accrued compensation1,790 2,737 
Research agreements and services867 530 
Other accrued liabilities223 207 
Total accrued liabilities$6,712 $7,783