Available-for-Sale Securities (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Summary of Available-For-Sale Securities Recorded in Cash and Cash Equivalents or Marketable Securities

The following table is a summary of available-for-sale securities recorded in cash and cash equivalents or marketable securities in the Company’s condensed consolidated balance sheets (in thousands):

	June 30, 2022
Financial Assets	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. Treasury money market funds	$	92,372	$	—	$	—		$	92,372
U.S. Treasury securities		134,270		—		(732	)		133,538
Commercial paper		77,402		8		(204	)		77,206
U.S. agency bonds		1,200		—		(1	)		1,199
Total	$	305,244	$	8	$	(937	)	$	304,315

	December 31, 2021
Financial Assets	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. Treasury money market funds	$	60,375	$	—	$	—		$	60,375
U.S. Treasury securities		82,204		—		(98	)		82,106
Commercial paper		46,678		13		(4	)		46,687
Corporate debt securities		15,486		—		(5	)		15,481
U.S. agency bonds		1,200		—		(1	)		1,199
Total	$	205,943	$	13	$	(108	)	$	205,848

Summary of Gross Unrealized Losses and Fair Value by Major Security Type for Available-For-Sale Securities in Unrealized Loss Position

The following table displays additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of June 30, 2022 and December 31, 2021 (in thousands):

	June 30, 2022					December 31, 2021
	Less than 12 consecutive months					Less than 12 consecutive months
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury securities	$	133,538	$	(732	)	$	82,106	$	(98	)
Commercial paper		59,963		(204	)		13,734		(4	)
Corporate debt securities		—		—			15,481		(5	)
U.S. agency bonds		1,199		(1	)		1,199		(1	)
Total	$	194,700	$	(937	)	$	112,520	$	(108	)

Summary of Amortized Cost and Estimated Fair Value of Available-for-sale Securities by Contractual Maturity

As of June 30, 2022, the amortized cost and estimated fair value of the Company’s available-for-sale securities by contractual maturity are shown below (in thousands):

	Amortized		Estimated
Available-for-sale securities maturing:	Cost		Fair Value
In one year or less	$	305,244	$	304,315
Total available-for-sale securities	$	305,244	$	304,315