Marketable Securities

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

MARKETABLE SECURITIES

The following table represents the Company’s available-for-sale marketable securities:


	As of June 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. government Treasury bills	$	405,458	$	—	$	(2,318	)	$	403,140
Total marketable securities	$	405,458	$	—	$	(2,318	)	$	403,140


	As of December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. government Treasury bills	$	241,369	$	—	$	(252	)	$	241,117
Total marketable securities	$	241,369	$	—	$	(252	)	$	241,117

The gross realized gains and losses related to the Company’s marketable securities were not material for the three and six months ended June 30, 2022 and 2021.

The following table presents the amortized cost and fair value of available-for-sale marketable securities by contractual maturity date:


	As of
	June 30, 2022				December 31, 2021
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	405,458	$	403,140	$	241,369	$	241,117

Investments in an unrealized loss position consisted of the following:


	As of
	June 30, 2022					December 31, 2021
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
U.S. government Treasury bills	$	403,140	$	(2,318	)	$	241,117	$	(252	)
Total investments in an unrealized loss position	$	403,140	$	(2,318	)	$	241,117	$	(252	)

As of June 30, 2022 and December 31, 2021, no investments were in a continuous unrealized loss position for more than 12 months. The Company does not intend to sell any of these investments and does not consider it more likely than not that the Company would be required to sell these investments before recovery of their amortized cost basis, which may be at maturity.