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Marketable Securities
 6 Months Ended
Jun. 30, 2022
Investments Debt And Equity Securities [Abstract]  
Marketable Securities

4. Marketable Securities

The following is a summary of the Company’s marketable securities.

(in thousands)

 

Amortized Cost

 

 

Gross unrealized gain

 

 

Gross unrealized loss

 

 

Fair Value

 

June 30, 2022:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

184,045

 

 

$

20

 

 

$

(2,289

)

 

$

181,776

 

Commercial paper

 

 

13,848

 

 

 

—

 

 

 

(25

)

 

 

13,823

 

Total

 

$

197,893

 

 

$

20

 

 

$

(2,314

)

 

$

195,599

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

193,798

 

 

$

1

 

 

$

(696

)

 

$

193,103

 

Commercial paper

 

 

66,318

 

 

 

1

 

 

 

(17

)

 

 

66,302

 

Total

 

$

260,116

 

 

$

2

 

 

$

(713

)

 

$

259,405

 

The Company’s marketable securities generally have contractual maturity dates of 16 months or less. The Company believes that any unrealized losses associated with the decline in value of its securities is temporary, is primarily related to market factors and believes that it is more likely than not that it will be able to hold its debt securities to maturity. Therefore, the Company anticipates a full recovery of the amortized cost basis of its debt securities at maturity and an allowance for credit losses was not recognized.