Cash Equivalents and Marketable Securities

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Cash Equivalents And Marketable Securities

4. Cash Equivalents and Marketable Securities

Cash equivalents and marketable securities consisted of the following as of September 30, 2022 and December 31, 2021 (in thousands):

	Fair Value Measurements at September 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Cash equivalents:
Money market funds	$	38,038	$	—	$	—		$	38,038
U.S. Treasury securities		23,979		3		—			23,982
Commercial paper		28,924		1		(7	)		28,918
Total cash equivalents		90,941		4		(7	)		90,938
Marketable securities:
U.S. Treasury securities		17,258		—		(35	)		17,223
Commercial paper		41,135		—		(94	)		41,041
Corporate bonds		73,376		—		(789	)		72,587
Total marketable securities		131,769		—		(918	)		130,851
Total cash equivalents and marketable securities	$	222,710	$	4	$	(925	)	$	221,789

	Fair Value Measurements at December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Cash equivalents:
Money market funds	$	35,412	$	—	$	—		$	35,412
Total cash equivalents		35,412		—		—			35,412
Marketable securities:
Commercial paper		81,450		—		(68	)		81,382
Corporate bonds		101,697		—		(329	)		101,368
Total marketable securities		183,147		—		(397	)		182,750
Total cash equivalents and marketable securities	$	218,559	$	—	$	(397	)	$	218,162

There were no sales of marketable securities during the three and nine months ended September 30, 2022. As of September 30, 2022, the aggregate fair value of marketable securities that were in an unrealized loss position for less than twelve months was $79.7 million. As of September 30, 2022, the aggregate fair value of marketable securities that were in an unrealized loss position for greater than twelve months was $43.7 million.

The Company determined that it did not hold any marketable securities with any other-than-temporary impairment as of September 30, 2022. As of September 30, 2022, the aggregate fair value of marketable securities with a remaining contractual maturity of greater than one year was $10.2 million. As of September 30, 2022, the Company did not intend to sell, and would not be more likely than not be required to sell, the marketable securities in an unrealized loss position