Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments Debt And Equity Securities [Abstract]

Summary of Company Marketable Securities

The following tables present a summary of the Company’s marketable securities, which consist solely of available-for-sale debt securities (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
March 31, 2023
U.S. government and agency securities	$	101,176	$	—	$	(2,567	)	$	98,609
Certificates of deposit		7,554		—		(221	)		7,333
Corporate bonds		305,468		5		(7,980	)		297,493
	$	414,198	$	5	$	(10,768	)	$	403,435

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
December 31, 2022
U.S. government and agency securities	$	134,485	$	—	$	(3,492	)	$	130,993
Certificates of deposit		7,555		1		(248	)		7,308
Corporate bonds		340,752		—		(10,803	)		329,949
	$	482,792	$	1	$	(14,543	)	$	468,250

Summary of unrealized loss on available-for-sale securities, net, presented in the consolidated statements of operations and comprehensive loss

Unrealized gain (loss) on available-for-sale securities, net, as presented in the consolidated statements of operations and comprehensive loss consisted of the following (in thousands):

	Three Months Ended March 31,
	2023		2022
Unrealized gain (loss) before reclassifications	$	3,779	$	(9,381	)
Realized losses (gains) reclassified to investment income		—		—
Income tax expense		—		—
Unrealized gain (loss) on available-for-sale securities, net	$	3,779	$	(9,381	)

Summary of Fair Values and Unrealized Losses of Marketable Securities Held by the Company in an Unrealized Loss Position for Less Than 12 months and 12 Months or Greater

The following tables present the fair values and unrealized losses of available-for-sale debt securities held by the Company in an unrealized loss position for less than 12 months and 12 months or greater (in thousands):

	Less than 12 Months					12 Months or Greater					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
March 31, 2023
U.S. government and agency securities	$	33,920	$	(386	)	$	64,689	$	(2,181	)	$	98,609	$	(2,567	)
Certificates of deposit		3,379		(51	)		3,484		(170	)		6,863		(221	)
Corporate bonds		8,082		(168	)		288,197		(7,812	)		296,279		(7,980	)
	$	45,381	$	(605	)	$	356,370	$	(10,163	)	$	401,751	$	(10,768	)

	Less than 12 Months					12 Months or Greater					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
December 31, 2022
U.S. government and agency securities	$	91,498	$	(2,014	)	$	38,495	$	(1,478	)	$	129,993	$	(3,492	)
Certificates of deposit		4,484		(144	)		2,087		(104	)		6,571		(248	)
Corporate bonds		106,707		(3,866	)		223,242		(6,937	)		329,949		(10,803	)
	$	202,689	$	(6,024	)	$	263,824	$	(8,519	)	$	466,513	$	(14,543	)