Cash, Cash Equivalents and Marketable Securities

12 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents and Marketable Securities

Cash, Cash Equivalents and Marketable Securities

A summary of cash, cash equivalents and available-for-sale marketable securities held by the Company as of December 31, 2023 and 2022 is as follows (in thousands):

	December 31, 2023
	Cost		Unrealized gains		Unrealized losses		Fair value
Cash and cash equivalents:
Cash (Level 1)	$	2,729	$	—	$	—	$	2,729
Money market funds (Level 1)	78,555		—		—		78,555
US government and government sponsored entities (Level 1)	14,967		—		—		14,967
Corporate debt securities due within 3 months of date of purchase (Level 2)	3,664		—		—		3,664
Total cash and cash equivalents	99,915		—		—		99,915
Marketable securities:
Corporate debt securities due within 1 year of date of purchase (Level 2)	382,028		195		(7)		382,216
US government and government sponsored entities due within 1 year of date of purchase (Level 2)	150,743		280		(1)		151,022
Corporate debt securities due within 1 to 2 years of date of purchase (Level 2)	$	977	$	1	$	—	$	978
Total cash, cash equivalents and marketable securities	$	633,663	$	476	$	(8)	$	634,131

	December 31, 2022
	Cost		Unrealized gains		Unrealized losses		Fair value
Cash and cash equivalents:
Cash (Level 1)	$	15,100	$	—	$	—	$	15,100
Money market funds (Level 1)	316,449		—		—		316,449
Total cash and cash equivalents	331,549		—		—		331,549
Marketable securities:
Corporate debt securities due within 1 year of date of purchase (Level 2)	27,257		7		(39)		27,225
Total cash, cash equivalents and marketable securities	$	358,806	$	7	$	(39)	$	358,774