Investments (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Short-Term and Long-Term Investments

The following tables summarize the Company’s debt investments (in thousands):

	March 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Corporate bonds	$	15,331	$	1	$	(5)	$	15,327
Commercial paper	36,086		13		(12)		36,087
U.S. treasury securities	117,896		26		(201)		117,721
Total investments	$	169,313	$	40	$	(218)	$	169,135
	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Corporate bonds	$	11,079	$	4	$	(7)	$	11,076
Commercial paper	44,271		52		(4)		44,319
U.S. treasury securities	121,474		126		(164)		121,436
Total investments	$	176,824	$	182	$	(175)	$	176,831

Schedule of Investments with Unrealized Losses, Aggregated by Investment Type and the Length of Time

The following tables summarize the Company’s debt investments with unrealized losses, aggregated by investment type and the length of time that individual investments have been in a continuous unrealized loss position (in thousands, except number of securities):

	March 31, 2024
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Corporate bonds	$	11,047	$	(5)	$	—	$	—	$	11,047	$	(5)
Commercial paper	12,666		(12)		—		—		12,666		(12)
U.S. treasury securities	86,026		(176)		4,969		(25)		90,995		(201)
Total	$	109,739	$	(193)	$	4,969	$	(25)	$	114,708	$	(218)
Number of securities with unrealized losses			46				2				48
	December 31, 2023
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Corporate bonds	$	6,365	$	(7)	$	—	$	—	$	6,365	$	(7)
Commercial paper	5,464		(4)		—		—		5,464		(4)
U.S. treasury securities	$	64,531	$	(120)	$	14,937	$	(44)	$	79,468	$	(164)
Total	$	76,360	$	(131)	$	14,937	$	(44)	$	91,297	$	(175)
Number of securities with unrealized losses			24				4				28

Schedule of the Scheduled Maturity of Company Investments

The following table summarizes the scheduled maturity for the Company’s debt investments at March 31, 2024 (in thousands):

Maturing in one year or less	$	140,002
Maturing after one year through two years	29,133
Total debt investments	$	169,135