Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Summary of Available for Sale Securities

Marketable securities, which are classified as available-for-sale, consisted of the following as of June 30, 2024 and December 31, 2023 (in thousands):

	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value as of June 30, 2024
Short-term marketable securities:
Certificates of deposit	$	69,674	$	21	$	(18	)	$	69,677
Commercial paper		95,009		8		(68	)		94,949
Corporate bonds		169,491		10		(212	)		169,289
U.S. Treasuries		18,977		—		(7	)		18,970
Total short-term marketable securities	$	353,151	$	39	$	(305	)	$	352,885
Long-term marketable securities:
Commercial paper	$	1,275	$	—	$	(4	)	$	1,271
Corporate bonds		34,466		20		(42	)		34,444
Total long-term marketable securities	$	35,741	$	20	$	(46	)	$	35,715

	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value as of December 31, 2023
Short-term marketable securities:
Commercial paper	$	17,603	$	1	$	(26	)	$	17,578
Corporate bonds		18,641		12		(3	)		18,650
U.S. government sponsored agencies		2,900		—		(4	)		2,896
Total short-term marketable securities	$	39,144	$	13	$	(33	)	$	39,124
Long-term marketable securities:
Commercial paper	$	661	$	4	$	—		$	665
Corporate bonds		10,257		32		—			10,289
Total long-term marketable securities	$	10,918	$	36	$	—		$	10,954

Summary of Aggregate Fair Values of Marketable Securities with Unrealized Losses and Gains

Aggregate fair values of marketable securities with unrealized losses and gains were as follows as of June 30, 2024 and December 31, 2023 (in thousands):

	June 30,		December 31,
	2024		2023
Aggregate fair value of marketable securities in a continuous loss position for less than twelve months	$	304,777	$	20,494
Aggregate fair value of marketable securities in a continuous loss position for more than twelve months		—		4,986
Aggregate fair value of marketable securities in unrealized gain position		83,823		24,598
Total marketable securities	$	388,600	$	50,078