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Short-Term Investments

12 Months Ended

Dec. 31, 2023

3. SHORT-TERM INVESTMENTS

Short-term investments consist of U.S. treasury securities and are classified as available-for-sale.

Available-for-sale investments are reported at fair value, with unrealized gains or losses reported in accumulated other comprehensive income. The fair values of our available-for-sale cash and cash equivalents securities are Level 1 measurements, based on quoted prices from active markets for identical assets. The fair values of our available-for-sale short-term investments securities are Level 2 measurements, based on quoted prices from inactive markets for identical assets.

The amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of our marketable securities by type of security as of December 31, 2023 was as follows:

	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Assets:
U.S. treasury and U.S. government securities		45,345		36		(26	)		45,355
Total assets	$	45,345	$	36	$	(26	)	$	45,355

The aggregate fair value of available-for-sale debt securities in an unrealized loss position as of December 31, 2023 was $31,568. We did not have any investments in a continuous unrealized loss position for more than twelve months as of December 31, 2023. As of December 31, 2023, we believe that the cost basis of our available-for-sale debt securities is recoverable. No allowance for credit losses was recorded as of December 31, 2023.