Investments

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

The following table summarizes the Company’s cash equivalents and investments:

	December 31, 2023
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(in thousands)
Cash equivalents:
Money market funds	$	68,445	$	—	$	—	$	68,445
Certificates of deposit	402		—		—		402
Total	$	68,847	$	—	$	—	$	68,847

	December 31, 2022
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(in thousands)
Cash equivalents:
Money market funds	$	105,078	$	—	$	—	$	105,078
U.S. treasury notes	4,994		1		—		4,995
Certificates of deposit	401		—		—		401
Short-term investments:
U.S. treasury notes	42,089		2		(5)		42,086
Total	$	152,562	$	3	$	(5)	$	152,560

During the years ended December 31, 2023 and 2022, other income, net in the statements of operations includes interest income on available-for-sale investments of $4.4 million and $2.4 million, respectively. Other income, net in the statements of operations includes amortization of premiums and discounts on investments of $0.4 million and $0.2 million during the years ended December 31, 2023 and 2022, respectively.

There were no unrealized gains or losses on investments reclassified from accumulated other comprehensive loss to other income, net in the statements of operations during the years ended December 31, 2023 and 2022.