Marketable Securities

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Marketable SecuritiesThe following is a summary of the Company's marketable securities at December 31, 2022 (in thousands). The Company did not have any marketable securities as of December 31, 2021.


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. government agency securities and treasuries	$	100,555	$	—	$	1,159	$	99,396
Corporate debt securities	41,615		—		774		40,841
Total securities with a maturity of one year or less	$	142,170	$	—	$	1,933	$	140,237

U.S. government agency securities and treasuries	—		—		—		—
Corporate debt securities	3,442		—		124		3,318
Total securities with a maturity of greater than one year	$	3,442	$	—	$	124	$	3,318
Total available-for-sale securities	$	145,612	$	—	$	2,057	$	143,555

As of December 31, 2022, the Company had 32 marketable securities with a total fair market value of $143.6 million in an unrealized loss position, of which none were in a continuous unrealized loss position for more than twelve months. The Company believes that any unrealized losses associated with the decline in value of its securities is temporary and primarily related to the change in market interest rates since purchase 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.

Securities are evaluated for impairment at the end of each reporting period. The Company did not record any impairment related to its available-for-sale securities during the year ended December 31, 2022.