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Marketable Securities | 12 Months Ended
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Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities | 4. MARKETABLE SECURITIES 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, 2022 was as follows:
|  |  |  | DECEMBER 31, 2022 |
(in thousands) |  | Fair Value Hierarchy Level |  | Amortized Cost |  |  | Gross Unrealized Holding Gains |  |  | Gross Unrealized Holding Losses |  |  | Fair Value |
Money market funds |  | Level 1 |  | $ | 12,647 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,647 |
U.S. treasury securities |  | Level 1 |  |  | 39,372 |  |  |  | — |  |  |  | (169 | ) |  |  | 39,203 |
U.S. government agency securities |  | Level 2 |  |  | 76,860 |  |  |  | 37 |  |  |  | (82 | ) |  |  | 76,815 |
|  |  |  | $ | 128,879 |  |  | $ | 37 |  |  | $ | (251 | ) |  | $ | 128,665 |
The fair values of marketable securities by classification in the consolidated balance sheets was as follows:
(in thousands) |  | DECEMBER 31, 2022 |
Cash and cash equivalents |  | $ | 16,629 |
Marketable securities |  |  | 112,036 |
|  | $ | 128,665 |
The fair values of available-for-sale debt securities as of December 31, 2022, by contractual maturity, are summarized as follows:
(in thousands) |  | DECEMBER 31, 2022 |
Due in one year or less |  | $ | 127,667 |
Due after one year through two years |  |  | 998 |
|  | $ | 128,665 |
The aggregate fair value of available-for-sale debt securities in an unrealized loss position as of December 31, 2022 was $70.0 million. We did no t have any investments in a continuous unrealized loss position for more than twelve months as of December 31, 2022. As of December 31, 2022, 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, 2022. For the year ended December 31, 2021, the Company held money market funds that were classified as cash and cash equivalents on the Company's consolidated balance sheets of $4.0 million. These money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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