Investments

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

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


	June 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents and restricted cash:
Money market funds	$	116,505	$	—	$	—	$	116,505
Certificates of deposit	400		—		—		400
Short-term investments:
U.S. treasury notes	63,202		—		(297)		62,905
Total	$	180,107	$	—	$	(297)	$	179,810


	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 and six months ended June 30, 2022, other income, net in the statements of operations includes interest income on investments of $0.4 million and $0.7 million, respectively. During the three and six months ended June 30, 2021, other income, net in the statements of operations includes interest income on investments of less than $0.1 million and less than $0.1 million, respectively. During the three and six months ended June 30, 2022, other income, net in the statements of operations includes amortization of premiums and discounts on investments of $0.2 million and $0.4 million, respectively. There was no amortization of premiums and discounts on investments for the three and six months ended June 30, 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 and six months ended June 30, 2022 and 2021.

In the three and six months ended June 30, 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 June 30, 2022, the Company had $0.2 million of accrued interest receivables.