Marketable Securities

12 Months Ended

Dec. 31, 2021

Marketable Securities [Abstract]

Marketable Securities

NOTE 3. MARKETABLE SECURITIES    

Marketable securities consisted of the following as of December 31, 2021 (in thousands):    

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale securities, short-term
Commercial paper	$	47,939	$	—	$	—		$	47,939
Corporate debt securities		7,992		—		(11	)		7,981
Asset-backed securities		16,177		—		(22	)		16,155
Total available-for-sale securities, short-term		72,108		—		(33	)		72,075
Available-for-sale securities, long-term
Corporate debt securities		16,816		—		(103	)		16,713
Asset-backed securities		3,013		—		(25	)		2,988
U.S. treasury securities		11,988		—		(70	)		11,918
Total available-for-sale securities, long-term		31,817		—		(198	)		31,619
Total available-for-sale securities	$	103,925	$	—	$	(231	)	$	103,694

As of December 31, 2021, the Company’s available-for-sale securities classified as short-term mature in one year or less and the Company’s available-for-sale securities classified as long-term mature within two years. Fourteen of the available-for-sale marketable securities were in an unrealized loss position as of December 31, 2021, all of which were in a loss position for less than twelve months. Unrealized losses on available-for-sale securities as of December 31, 2021 were not significant and were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. Accordingly, no other-than-temporary impairment was recorded for the year ended December 31, 2021. There were no realized gains or losses for the year ended December 31, 2021.