Investments

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

Cash, cash equivalents and investments as of December 31, 2021 included the following:

			GROSS		GROSS
	AMORTIZED		UNREALIZED		UNREALIZED		FAIR
(in thousands)	COST		GAINS		LOSSES		VALUE
Cash and cash equivalents:
Cash and cash equivalents	$	37,187	$	—	$	—	$	37,187
Total cash and cash equivalents	$	37,187	$	—	$	—	$	37,187
Investments:
Certificates of deposit (due within 1 year)	$	9,047	$	—	$	(9)	$	9,038
Commercial paper (due within 1 year)	50,975		—		(55)		$	50,920
Corporate bonds (due within 1 year)	42,718		—		(62)		42,656
U.S. Government and government agencies (due within 1 year)			—				—
Total investments	$	102,740	$	—	$	(126)	$	102,614
Total cash, cash equivalents and investments	$	139,927	$	—	$	(126)	$	139,801

Cash, cash equivalents and investments as of December 31, 2020 included the following:

			GROSS		GROSS
	AMORTIZED		UNREALIZED		UNREALIZED		FAIR
(in thousands)	COST		GAINS		LOSSES		VALUE
Cash and cash equivalents:
Cash and cash equivalents	$	151,570	$	—	$	—	$	151,570
Total cash and cash equivalents	$	151,570	$	—	$	—	$	151,570
Investments:
Commercial paper (due within 1 year)	$	44,122	$	5	$	(23)	$	44,104
Corporate bonds (due within 1 year)	44,724		3		(37)		44,690
Total investments	$	88,846	$	8	$	(60)	$	88,794
Total cash, cash equivalents and investments	$	240,416	$	8	$	(60)	$	240,364

Interest income earned on the Company’s cash, cash equivalents and investments was $0.1 million, $2.0 million and $3.0 million for the years ended December 31, 2021, 2020 and 2019, respectively. Realized gains or losses were immaterial for the years ended December 31, 2021, 2020 and 2019.

As of December 31, 2021, the Company did not hold any equity securities. As of December 31, 2020, the fair value of the equity securities held at the end of the period was $1.3 million. For the year ended December 31, 2021, the Company had $1.0 million of realized losses on equity securities.