Investments

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

The following table summarizes the Company’s cash equivalents, restricted cash, and short-term investments (in thousands):


	March 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents and restricted cash:
Money market funds	$	140,752	$	—	$	—	$	140,752
Certificates of deposit	400		—		—		400
Short-term investments:
U.S. treasury notes	68,401		—		(263)		68,138
Total	$	209,553	$	—	$	(263)	$	209,290


	December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	188,734	$	—	$	—	$	188,734


Certificates of deposit	400		—		—		400
Short-term investments:

U.S. treasury notes	50,472		—		(31)		50,441

Total	$	239,606	$	—	$	(31)	$	239,575

During the three months ended March 31, 2022 and March 31, 2021, other income, net in the statements of operations includes interest income on investments of $0.3 million and less than $0.1 million, respectively. During the three months ended March 31, 2022, other income, net in the statements of operations includes amortization of premiums and discounts on investments of $0.2 million. There was no amortization of premiums and discounts on investments for the three months ended March 31, 2021.

There were no unrealized gains or losses on investments reclassified from accumulated other comprehensive income (loss) to other income in the statements of operations during the three months ended March 31, 2022 and 2021.

In the three months ended March 31, 2022, there were no allowances for credit losses and all unrealized gains (losses) for available-for-sale securities were recognized in accumulated other comprehensive income (loss). As of March 31, 2022, the Company had $0.2 million of accrued interest receivables.