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Short-Term Investments (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Summary of Short-Term Investments

The following tables summarize short-term investments as of March 31, 2024 and December 31, 2023:

						As of March 31, 2024
												Unrealized
(in thousands)						Amortized Cost						Gains						Losses						Estimated Fair Value
Government and agency securities						$	48,115					$	7					$	(22)					$	48,100
Asset backed securities						1,850						—						(3)						1,847
Total short-term investments						$	49,965					$	7					$	(25)					$	49,947

						As of December 31, 2023
												Unrealized
(in thousands)						Amortized Cost						Gains						Losses						Estimated Fair Value
Government and agency securities						$	68,054					$	57					$	(4)					$	68,107
Asset-backed securities						2,522						—						(4)						2,518
Total short-term investments						$	70,576					$	57					$	(8)					$	70,625

Summary of Available-for-Sale Investments by Maturity

The following table summarizes available-for-sale investments by maturity as of March 31, 2024:

(in thousands)						Amortized Cost						Estimated Fair Value
Due in one year or less						$	49,965					$	49,947
Due after one year						—						—
Total short-term investments						$	49,965					$	49,947

Schedule of Available-for-Sale Debt Securities in an Unrealized Loss Position

The following tables summarize the Company’s available-for-sale investments’ gross unrealized losses and fair value aggregated by investment category and length of time that individual securities have been in a continuous loss position, as of March 31, 2024 and December 31, 2023:

						As of March 31, 2024
						Less than 12 months																		More than 12 months																		Total
(in thousands)						Count						Fair Value						Unrealized Losses						Count						Fair Value						Unrealized Losses						Count						Fair Value						Unrealized Losses
Government and agency securities						14						$	29,339					$	(21)					—						$	—					$	—					14						$	29,339					$	(21)
Asset backed securities						3						1,848						(3)						—						—						—						3						1,848						(3)
						17						$	31,187					$	(24)					—						$	—					$	—					17						$	31,187					$	(24)

						As of December 31, 2023
						Less than 12 months																		More than 12 months																		Total
(in thousands)						Count						Fair Value						Unrealized Losses						Count						Fair Value						Unrealized Losses						Count						Fair Value						Unrealized Losses
Government and agency securities						5						$	10,402					$	(4)					—						$	—					$	—					5						$	10,402					$	(4)
Asset backed securities						3						2,518						(4)						—						—						—						3						2,518						(4)
						8						$	12,920					$	(8)					—						$	—					$	—					8						$	12,920					$	(8)

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