Marketable Securities

9 Months Ended

Sep. 30, 2023

Debt Securities, Available-for-Sale [Abstract]

4. Marketable Securities


								As of September 30, 2023
	Amortized Cost		Unrealized Gain		Unrealized Losses			Fair Value
Marketable Securities
US Treasury obligations	$	149,721	$	8	$	(104	)	$	149,625
US Government agency securities		171,645		55		(106	)		171,594
Commercial paper		84,281		—		—			84,281
Corporate bonds		51,855		—		(115	)		51,740
Total	$	457,502	$	63	$	(325	)	$	457,240


								As of December 31, 2022
	Amortized Cost		Unrealized Gain		Unrealized Losses			Fair Value
Marketable Securities
US Treasury obligations	$	59,422	$	—	$	(304	)	$	59,118
US Government agency securities		15,000		—		(59	)		14,941
Commercial paper		310,433		—		—			310,433
Corporate bonds		61,504		—		(255	)		61,249
Asset-backed securities		12,574		—		(66	)		12,508
Total	$	458,933	$	—	$	(684	)	$	458,249

As of September 30, 2023, the Company held 39 securities that were in an unrealized loss position of $325 with an aggregate fair value of $272,304. The Company has the intent and ability to hold such securities until recovery. As a result, the Company did not record any charges for credit-related impairments for its marketable debt securities for the three and nine months ended September 30, 2023.

None of the securities had remaining maturities longer than one year as of September 30, 2023.

The Company received proceeds of $527,664 from sales and maturities of marketable securities during the nine months ended September 30, 2023. There were no sales and maturities of marketable securities during the nine months ended September 30, 2022.