Investments

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

3. Investments.

Available-for-sale investments by security type were as follows (in thousands):

	Estimated Fair Value		Gross Unrealized Gains		Gross Unrealized Losses		Amortized Cost
At September 30, 2023:
U.S. Treasuries—Cash equivalents	$	85,666	$	20	$	—	$	85,646
Total	$	85,666	$	20	$	—	$	85,646
At December 31, 2022:
U.S. Treasuries—Cash equivalents	$	105,442	$	32	$	—	$	105,410
Total	$	105,442	$	32	$	—	$	105,410

There were no realized gains or losses from available-for-sale securities during the three and nine months ended September 30, 2023. There were realized losses from sale of available-for-sale securities of $129 thousand and $762 thousand, respectively, during the three and nine months ended September 30, 2022.

The estimated fair values of available-for-sale securities at September 30, 2023, by contractual maturity, are summarized as follows (in thousands):

	September 30, 2023
Due in one year or less	$	85,666

Net gains and losses on equity securities were as follows (in thousands):

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2023			2022		2023			2022
Equity securities:
Net gains (losses) recognized during the period on equity securities	$	(568	)	$	—	$	(568	)	$	—
Unrealized net gains (losses) recognized during the period on equity securities still held at the reporting date	$	(568	)	$	—	$	(568	)	$	—

There were no sales of equity securities during the three and nine months ended September 30, 2023 and 2022. Unrealized net gains (losses) recognized during the periods on equity securities are included in other income (expense), net in the consolidated statements of operations.