Investments in Debt Securities

6 Months Ended

Jun. 30, 2022

3. Investments in Debt Securities

The following tables summarize the Company’s investments in debt securities and their presentation in the condensed consolidated balance sheet:


	June 30, 2022		December 31, 2021
	(in thousands)
Money market funds	$	7,377	$	5,684
Corporate paper and notes		135,314		155,039
U.S. government agency securities		6,061		2,093
U.S. treasuries		46,492		32,155
Total	$	195,244	$	194,971

Fair value of debt securities	$	194,144	$	194,773


	June 30, 2022		December 31, 2021
	(in thousands)
Cash equivalents	$	12,373	$	5,684
Current marketable securities		162,177		168,990
Non-current marketable securities		20,694		20,297
Total	$	195,244	$	194,971

The Company does not intend to sell and it is unlikely that the Company will be required to sell the above investments before recovery of their amortized cost bases, which may be at maturity. The Company determined that there was no material change in the credit risk of any of its investments.

The fair value of money market funds is determined based on publicly available market price for these funds (Level 1). The fair value of other debt securities is determined based on the publicly available inputs which includes a market price for the same or similar instruments adjusted for estimates in interest yield (Level 2).