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Marketable Securities
 6 Months Ended
Jun. 30, 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 June 30, 2022 and December 31, 2021 (in thousands):

 

 

 

Amortized Cost Basis

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value as of June 30, 2022

 

Short-term marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

$

21,544

 

 

$

—

 

 

$

(74

)

 

$

21,470

 

Corporate bonds

 

 

48,438

 

 

 

—

 

 

 

(703

)

 

 

47,735

 

US Treasuries

 

 

59,076

 

 

 

—

 

 

 

(677

)

 

 

58,399

 

Total short-term marketable securities

 

$

129,058

 

 

$

—

 

 

$

(1,454

)

 

$

127,604

 

Long-term marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

$

5,098

 

 

$

—

 

 

$

(111

)

 

$

4,987

 

Corporate bonds

 

 

13,608

 

 

 

—

 

 

 

(252

)

 

 

13,356

 

US Government sponsored agency

 

 

2,199

 

 

 

—

 

 

 

(10

)

 

 

2,189

 

Total long-term marketable securities

 

$

20,905

 

 

$

—

 

 

$

(373

)

 

$

20,532

 

 

 

 

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 June 30, 2022 and December 31, 2021 had contractual maturities of less than two years. There was an immaterial realized loss on marketable securities for the six-month period ended June 30, 2022. 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 and six months ended June 30, 2022.