Investments

3 Months Ended

Mar. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

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

(in thousands)	AMORTIZED COST		GROSS UNREALIZED GAINS		GROSS UNREALIZED LOSSES		FAIR VALUE
Cash and cash equivalents:
Cash and cash equivalents	$	122,695					$	122,695
Total cash and cash equivalents	$	122,695	$	—	$	—	$	122,695
Investments:
Commercial paper (due within 1 year)	$	42,942	$	1	$	(41)	$	42,902
Corporate bonds (due within 1 year)	42,631		—		(24)		42,607
Total investments	$	85,573	$	1	$	(65)	$	85,509
Total cash, cash equivalents and investments	$	208,268	$	1	$	(65)	$	208,204

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 and $1.1 million for the three months ended March 31, 2021 and 2020, respectively. Realized gains or losses were immaterial during the three months ended March 31, 2021 and 2020.

As of March 31, 2021, the Company had no 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 three months ended March 31, 2021, the Company had $1.0 million of losses on equity securities sold during the period.