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Cash, Cash Equivalents, Restricted Cash and Investments
 6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Cash, Cash Equivalents, Restricted Cash and Investments Cash, Cash Equivalents, Restricted Cash and Investments
As of June 30, 2024 and December 31, 2023, the Company had $330.7 million and $350.7 million, respectively of cash, cash equivalents, restricted cash and investments summarized below. As of June 30, 2024 and December 31, 2023, $297.3 million and $301.8 million were available-for-sale debt securities which are carried at fair market value.
June 30, 2024
(in thousands)Amortized CostUnrealized GainsUnrealized LossesEstimated Fair Value
Cash, cash equivalents and restricted cash$33,407 $— $— $33,407 
Corporate bonds3,873 — — 3,873 
Commercial paper15,583 — (8)15,575 
Treasury bills183,128 — (6)183,122 
Treasury bonds94,537 — (39)94,498 
Total cash, cash equivalents, restricted cash and short-term investments330,528 — (53)330,475 
Total long-term investment corporate bond199 — — 199 
Total cash, cash equivalents, restricted cash and investments$330,727 $— $(53)$330,674 
December 31, 2023
(in thousands)Amortized CostUnrealized GainsUnrealized LossesEstimated Fair Value
Cash, cash equivalents and restricted cash$48,875 $— $— $48,875 
Corporate bonds33,576 4 — 33,580 
Commercial paper39,305 — (1)39,304 
Treasury bills122,757 49 — 122,806 
Treasury bonds105,903 21 — 105,924 
Total cash, cash equivalents, restricted cash and short-term investments350,416 74 (1)350,489 
Total long-term investment corporate bond
200 1 — 201 
Total cash, cash equivalents, restricted cash and investments
$350,616 $75 $(1)$350,690 

As of June 30, 2024 and December 31, 2023, accrued interest receivable from investments was $0.6 million and $0.7 million, respectively. During the three and six months ended June 30, 2024, the Company had $5 thousand and $129 thousand of unrealized losses on available-for-sale securities, net of tax, respectively, which are included as a component of comprehensive loss on the consolidated statements of operations. During the three and six months ended June 30, 2023, the Company had $(32) thousand and $41 thousand of unrealized losses and gains on available-for-sale securities, net of tax, respectively, which are included as a component of comprehensive loss on the consolidated statements of operations. Currently, the Company does not intend to sell investments that are in an unrealized loss position, and it is unlikely the Company will be required to sell the investments before recovery of their amortized cost basis, which may be at maturity. The Company has determined that the gross unrealized losses on investments at June 30, 2024, were temporary in nature. Realized gains or losses were immaterial during the three and six months ended June 30, 2024 and 2023.
The Company's short-term investments as of June 30, 2024 mature at various dates through March 2025 and the long-term investment matures in August 2025.