Cash Equivalents and Marketable Securities

6 Months Ended

Jun. 30, 2022

Cash Equivalents and Marketable Securities

Cash Equivalents and Marketable Securities

Note 5. Cash Equivalents and Marketable Securities

Cash equivalents and marketable securities consisted of the following (in thousands):

	June 30, 2022
	Amortized		Gross Unrealized
	Cost		Gains		Losses		Fair Value
Money market funds	$	38,082	$	—	$	—	$	38,082
Commercial paper		136,089		—		(35)		136,054
Corporate debt securities		16,540		—		(47)		16,493
U.S. Treasury and agency securities		94,873		—		(368)		94,505
Total cash equivalents and marketable securities	$	285,584	$	—	$	(450)	$	285,134
Classified as:
Cash equivalents							$	113,481
Marketable securities - current								171,653
Total cash equivalents and marketable securities							$	285,134

	December 31, 2021
	Amortized		Gross Unrealized
	Cost		Gains		Losses		Fair Value
Money market funds	$	39,854	$	—	$	—	$	39,854
Commercial paper		157,157		—		(16)		157,141
Corporate debt securities		75,598		—		(50)		75,548
U.S. Treasury and agency securities		40,093		—		(76)		40,017
Supranational and sovereign government securities		6,011		—		(1)		6,010
Total cash equivalents and marketable securities	$	318,713	$	—	$	(143)	$	318,570
Classified as:
Cash equivalents							$	115,335
Marketable securities - current								203,235
Total cash equivalents and marketable securities							$	318,570

Marketable securities – current of $171.7 million and $203.2 million held at June 30, 2022 and December 31, 2021, respectively, had contractual maturities of less than one year. The Company does not intend to sell its securities that are in an unrealized loss position, and it is not more likely than not that the Company will be required to sell its securities before recovery of their amortized cost basis, which may be at maturity. There were no realized gains or realized losses on marketable securities for the periods presented. Factors considered in determining whether a loss is temporary include the length of time and extent to which the fair value has been less than the amortized cost basis and whether the Company intends to sell the security or whether it is more likely than not that the Company would be required to sell the security before recovery of the amortized cost basis.