Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2023

The Company’s marketable securities consisted of the following (in thousands):


	March 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities, short-term
Corporate debt securities	$	40,335	$	5	$	(185)	$	40,155
Asset-backed securities	3,004		—		(65)		2,939
U.S. treasury securities	19,533		1		(218)		19,316
Total available-for-sale securities, short-term	62,872		6		(468)		62,410
Available-for-sale securities, long-term
Corporate debt securities	43,481		41		(103)		43,419
Total available-for-sale securities, long-term	43,481		41		(103)		43,419
Total available-for-sale securities	$	106,353	$	47	$	(571)	$	105,829


	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities, short-term
Corporate debt securities	$	30,174	$	—	$	(249)	$	29,925
Asset-backed securities	3,006		—		(102)		2,904
U.S treasury securities	15,032		—		(357)		14,675
Total available-for-sale securities, short-term	48,212		—		(708)		47,504
Available-for-sale securities, long-term
Corporate debt securities	15,880		—		(43)		15,837


Total available-for-sale securities, long-term	15,880		—		(43)		15,837
Total available-for-sale securities	$	64,092	$	—	$	(751)	$	63,341

Summary of Unrealized Losses

The following tables summarize the amount of unrealized losses, defined as the amount by which the amortized cost exceeds fair value, and the related fair value of available-for-sale marketable securities with unrealized losses, which have been segregated into two categories: those that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 or more months.


	March 31, 2023
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate debt securities	$	53,873	$	(165)	$	9,035	$	(122)	$	62,908	$	(287)
Asset-backed securities	—		—		2,939		(65)		2,939		(65)
U.S. treasury securities	5,521		(3)		11,781		(216)		17,302		(219)
Total	$	59,394	$	(168)	$	23,755	$	(403)	$	83,149	$	(571)


	December 31, 2022
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate debt securities	$	29,515	$	(58)	$	16,247	$	(234)	$	45,762	$	(292)
Asset-backed securities	—		—		2,904		(102)		2,904		(102)
U.S. treasury securities	3,026		(7)		11,649		(350)		14,675		(357)
Total	$	32,541	$	(65)	$	30,800	$	(686)	$	63,341	$	(751)