Balance Sheet Components

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

4. Balance Sheet Components

Cash Equivalents and Investments

The fair values of cash equivalents and investments classified as available-for-sale securities consisted of the following (in thousands):


	June 30, 2022
				Gross Unrealized
		Amortized Cost		Gains		Losses			Estimated Fair Value
Money market funds		$	121,255	$	—	$	—		$	121,255
Certificates of deposit and time deposits			23,907		—		—			23,907
Corporate bonds			333,287		—		(6,554	)		326,733
Commercial paper			78,727		—		—			78,727
Asset-backed securities			10,372		—		(21	)		10,351
U.S. Government Treasury and agency securities			101,892		36		(1,166	)		100,762
Debt securities in government-sponsored entities			16,046		—		(297	)		15,749
Total		$	685,486	$	36	$	(8,038	)	$	677,484


	December 31, 2021
				Gross Unrealized
		Amortized Cost		Gains		Losses			Estimated Fair Value
Money market funds		$	266,765	$	—	$	—		$	266,765
Certificates of deposit and time deposits			16,000		—		—			16,000
Corporate bonds			350,667		3		(979	)		349,691
Commercial paper			187,624		—		—			187,624
Asset-backed securities			41,282		1		(38	)		41,245
U.S. Government Treasury and agency securities			87,642		1		(208	)		87,435
Debt securities in government-sponsored entities			19,612		—		(63	)		19,549
Total		$	969,592	$	5	$	(1,288	)	$	968,309

At June 30, 2022, the remaining contractual maturities of available-for-sale securities were less than three years. There have been no significant realized gains or losses on available-for-sale securities for the three and six months ended June 30, 2022 and 2021. The unrealized losses on the Company’s investments in marketable debt securities were caused by interest rate increases. All marketable securities with unrealized losses at June 30, 2022 have been in a loss position for less than twelve months except for two corporate bond securities with an aggregate fair value of $9.4 million and an aggregate unrealized loss of $0.2 million. The contractual terms of these investments do not permit the issuers to settle the securities at a price less than the par value. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost basis of these investments. The Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis.

Inventory

Inventory consists of the following (in thousands):


	June 30,		December 31,
	2022		2021
Work-in-process	$	16,189	$	10,504
Finished goods		4,890		5,727
Total inventory	$	21,079	$	16,231

Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	June 30,		December 31,
	2022		2021
Research, clinical study, and manufacturing expenses	$	67,743	$	40,880
Payroll and related expenses		47,913		62,591
Other		54,699		42,084
Total accrued liabilities	$	170,355	$	145,555