Investments

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

The amortized cost, including interest receivable, unrealized gains and losses and fair value of investments available-for-sale as of March 31, 2022 are as follows:


(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Corporate bonds and notes—short-term	$	102,636	$	—	$	(451)	$	102,185

Total investments	$	102,636	$	—	$	(451)	$	102,185

Short-term investments have maturities ranging from one to twelve months with a weighted-average maturity of 0.5 years at March 31, 2022.

The amortized cost, including interest receivable, unrealized gains and losses and fair value of investments available-for-sale as of December 31, 2021 are as follows:


(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Corporate bonds and notes—short-term	$	75,896	$	—	$	(26)	$	75,870
Corporate bonds and notes—long-term	24,047		—		(83)		23,964
Total investments	$	99,943	$	—	$	(109)	$	99,834

Short-term investments have maturities ranging from one to twelve months with a weighted-average maturity of 0.4 years at December 31, 2021. The weighted average maturity of long-term investments was 1.2 years at December 31, 2021.

No credit losses on available-for-sale securities were recognized during the three months ended March 31, 2022 or March 31, 2021. In its evaluation to determine expected credit losses, management considered all available historical and current information, expectations of future economic conditions, the type of security, the credit rating of the security, and the size of the loss position, as well as other relevant information. The Company does not intend to sell, and is unlikely to be required to sell, any of these available-for-sale investments before their effective maturity or market price recovery.

As of March 31, 2022 and December 31, 2021, the Company held no investments that have been in a continuous unrealized loss position for 12 months or longer.