Cash Equivalents and Short-Term Investments

3 Months Ended

Mar. 31, 2022

Cash and Cash Equivalents [Abstract]

Cash Equivalents and Short-Term Investments

Cash Equivalents and Short-Term Investments

The following is a summary of the Company’s cash equivalents and short-term investments:

	March 31, 2022
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
	(in thousands)
U.S. Treasury securities	$	110,452	$	—	$	(966)	$	109,486
Money market funds	23,711		—		—		23,711
Commercial paper	16,483		—		—		16,483
Corporate bonds	8,957		—		(51)		8,906
Total	$	159,603	$	—	$	(1,017)	$	158,586
Reported as:
Cash equivalents							$	23,711
Short-term investments							134,875
Total							$	158,586

	December 31, 2021
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
	(in thousands)
U.S. Treasury securities	$	80,353	$	—	$	(198)	$	80,155
Money market funds	47,541		—		—		47,541
Commercial paper	20,472		—		—		20,472
Corporate bonds	11,149		—		(4)		11,145
Total	$	159,515	$	—	$	(202)	$	159,313
Reported as:
Cash equivalents							$	47,541
Short-term investments							111,772
Total							$	159,313

The Company recognized no material realized gains or losses on its cash equivalents and short-term investments in the periods presented.

The remaining contractual maturities for available-for-sale securities were as follows:

	March 31, 2022
	Fair Value
One year or less	$	115,230
Greater than one year and less than two years	43,356
Total	$	158,586