Marketable Securities

3 Months Ended

Mar. 31, 2022

The following are summaries of available-for-sale securities as of March 31, 2022 and December 31, 2021 (in thousands):


	Amortized Cost			Unrealized Gains		Unrealized Losses		Fair Value
March 31, 2022
U.S. treasury securities	$	30,200	—	$	—	$	(180)	$	30,020
Total	$	30,200		$	—	$	(180)	$	30,020


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
December 31, 2021
U.S. treasury securities	$	15,116	$	—	$	(9)	$	15,107
Total	$	15,116	$	—	$	(9)	$	15,107

As of March 31, 2022, the Company had securities with a total fair market value of $30.0 million in an unrealized loss position, of which none were in a continuous unrealized loss position for more than twelve months. The Company believes that any unrealized losses associated with the decline in value of its securities is temporary and primarily related to the change in market interest rates since purchase Therefore, the Company anticipates a full recovery of the amortized cost basis of its securities at maturity.

Securities are evaluated for impairment at the end of each reporting period. The Company did not record any impairment related to its available-for-sale securities during the three months ended March 31, 2022.