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Marketable Securities (Tables)
3 Months Ended
Mar. 31, 2022
Marketable Securities [Abstract]  
Summary of Marketable Securities

Marketable securities as of March 31, 2022 consisted of the following (in thousands):

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair

Value

 

Marketable securities, current:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

220,349

 

 

$

 

 

$

(1,040

)

 

$

219,309

 

U.S. Treasury securities

 

 

16,043

 

 

 

 

 

 

(146

)

 

 

15,897

 

U.S. government debt securities

 

 

10,000

 

 

 

 

 

 

(36

)

 

 

9,964

 

Marketable securities, non-current:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

 

80,816

 

 

 

 

 

 

(1,387

)

 

 

79,429

 

U.S. government debt securities

 

 

41,970

 

 

 

 

 

 

(876

)

 

 

41,094

 

U.S. Treasury securities

 

 

10,120

 

 

 

 

 

 

(165

)

 

 

9,955

 

Total marketable securities, current and non-current

 

$

379,298

 

 

$

 

 

$

(3,650

)

 

$

375,648

 

Marketable securities as of December 31, 2021 consisted of the following (in thousands):

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair

Value

 

Marketable securities, current:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

219,414

 

 

$

1

 

 

$

(250

)

 

$

219,165

 

U.S. government debt securities

 

 

5,006

 

 

 

 

 

 

 

 

 

5,006

 

U.S. Treasury securities

 

 

8,987

 

 

 

 

 

 

(3

)

 

 

8,984

 

Marketable securities, non-current:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

 

89,538

 

 

 

 

 

 

(403

)

 

 

89,135

 

U.S. government debt securities

 

 

32,982

 

 

 

 

 

 

(105

)

 

 

32,877

 

U.S. Treasury securities

 

 

20,203

 

 

 

 

 

 

(15

)

 

 

20,188

 

Total marketable securities, current

 

$

376,130

 

 

$

1

 

 

$

(776

)

 

$

375,355

 

Summary of Marketable Securities in Unrealized Loss Positions

Marketable securities in unrealized loss positions as of March 31, 2022 consisted of the following (in thousands, except number of securities):

 

 

Number of

Securities

 

 

Fair

Value

 

 

Gross

Unrealized

Losses

 

Marketable securities in continuous unrealized loss position for less than 12 months:

 

Corporate debt securities

 

 

99

 

 

$

269,361

 

 

$

(2,322

)

U.S. government debt securities

 

 

11

 

 

 

51,058

 

 

 

(912

)

U.S. Treasury securities

 

 

6

 

 

 

25,852

 

 

 

(311

)

Marketable securities in continuous unrealized loss position for greater than 12 months:

 

Corporate debt securities

 

 

15

 

 

 

26,881

 

 

 

(105

)

Total marketable securities in unrealized loss position

 

 

131

 

 

$

373,152

 

 

$

(3,650

)