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Cash and Cash Equivalents and Marketable Securities | 6 Months Ended
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Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract] |
Cash and Cash Equivalents and Marketable Securities | 3. Cash and Cash Equivalents and Marketable Securities As of June 30, 2023 and December 31, 2022, cash and cash equivalents and marketable securities were comprised of the following:
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
As of June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 48,254 |  |  | $ | — |  |  | $ | — |  |  | $ | 48,254 |
Money market funds |  |  | 67,290 |  |  |  | — |  |  |  | — |  |  |  | 67,290 |
Total cash and cash equivalents: |  | $ | 115,544 |  |  | $ | — |  |  | $ | — |  |  | $ | 115,544 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government-sponsored enterprises |  | $ | 74,552 |  |  | $ | 2 |  |  | $ | (159 | ) |  | $ | 74,395 |
Commercial paper |  |  | 91,020 |  |  |  | 4 |  |  |  | (271 | ) |  |  | 90,753 |
Total marketable securities |  | $ | 165,572 |  |  | $ | 6 |  |  | $ | (430 | ) |  | $ | 165,148 |
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 116,526 |  |  | $ | — |  |  | $ | — |  |  | $ | 116,526 |
Money market funds |  |  | 42,995 |  |  |  | — |  |  |  | — |  |  |  | 42,995 |
Total cash and cash equivalents: |  | $ | 159,521 |  |  | $ | — |  |  | $ | — |  |  | $ | 159,521 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government-sponsored enterprises |  | $ | 184,848 |  |  | $ | 5 |  |  | $ | (433 | ) |  | $ | 184,420 |
Total marketable securities |  | $ | 184,848 |  |  | $ | 5 |  |  | $ | (433 | ) |  | $ | 184,420 |
Interest receivable was $0.3 million and $0.4 million as of June 30, 2023 and December 31, 2022, respectively, and is included in other current receivables. The Company held available-for-sale marketable securities with an aggregate fair value of $135.3 million and $157.9 million that were in an unrealized loss position as of June 30, 2023 and December 31, 2022, respectively. These marketable securities have been in an unrealized loss position for less than twelve months. The unrealized losses as of June 30, 2023 and December 31, 2022, were not attributed to credit risk but were primarily associated with changes in interest rates and market liquidity. The Company does not intend to sell these securities and it is more likely than not that it will hold these investments for a period of time sufficient to recover the amortized cost. As a result, the Company did no t record an allowance for credit losses or other impairment charges for its marketable securities for the three and six months ended June 30, 2023 and 2022. The Company recognized $0.2 million of net unrealized loss and nil for the three months ended June 30, 2023 and 2022, respectively, and nil for the six months ended June 30, 2023 and 2022 in other comprehensive loss. The maturities of the Company’s marketable securities as of June 30, 2023 and December 31, 2022 are less than one year.

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- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent + Details
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