XML 22 R12.htm IDEA: XBRL DOCUMENT v3.22.1
Marketable Securities
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities

4. Marketable Securities

Marketable securities, which are classified as available-for-sale, consisted of the following as of March 31, 2022 and December 31, 2021 (in thousands):

 

 

 

Amortized Cost Basis

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value as of March 31, 2022

 

Short-term marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

$

37,553

 

 

$

—

 

 

$

(67

)

 

$

37,486

 

Corporate bonds

 

 

67,180

 

 

 

—

 

 

 

(386

)

 

 

66,794

 

US Treasuries

 

 

56,141

 

 

 

2

 

 

 

(240

)

 

 

55,903

 

Total short-term marketable securities

 

$

160,874

 

 

$

2

 

 

$

(693

)

 

$

160,183

 

Long-term marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

$

5,113

 

 

$

—

 

 

$

(42

)

 

$

5,071

 

Corporate bonds

 

 

28,987

 

 

 

—

 

 

 

(398

)

 

 

28,589

 

US Treasuries

 

 

14,992

 

 

 

—

 

 

 

(290

)

 

 

14,702

 

Total long-term marketable securities

 

$

49,092

 

 

$

—

 

 

$

(730

)

 

$

48,362

 

 

 

 

Amortized Cost Basis

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value as of December 31, 2021

 

Short-term marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

$

32,471

 

 

$

—

 

 

$

(4

)

 

$

32,467

 

Corporate bonds

 

 

57,315

 

 

 

—

 

 

 

(79

)

 

 

57,236

 

US Treasuries

 

 

5,082

 

 

 

—

 

 

 

(9

)

 

 

5,073

 

Total short-term marketable securities

 

$

94,868

 

 

$

—

 

 

$

(92

)

 

$

94,776

 

Long-term marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

$

5,089

 

 

$

—

 

 

$

(21

)

 

$

5,068

 

Corporate bonds

 

 

37,821

 

 

 

—

 

 

 

(193

)

 

 

37,628

 

US Treasuries

 

 

25,073

 

 

 

—

 

 

 

(117

)

 

 

24,956

 

Total long-term marketable securities

 

$

67,983

 

 

$

—

 

 

$

(331

)

 

$

67,652

 

 

All marketable securities held as of March 31, 2022 and December 31, 2021 had contractual maturities of less than two years. There have been no realized gains or losses on marketable securities for the periods presented. None of the Company's investments in marketable securities has been in an unrealized loss position for more than one year. The Company determined that it has the ability and intent to hold all marketable securities that have been in a continuous loss position until maturity or recovery, thus there has been no recognition of any other-than-temporary impairment in the three months ended March 31, 2022. As of March 31, 2021, the Company had no marketable securities.