Available-for-Sale Securities

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

4. Available-for Sale Securities

All marketable securities were considered available-for-sale at June 30, 2022. The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s marketable securities by major security type at each condensed balance sheets date are summarized in the tables below:


	June 30, 2022
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
	(in thousands)
Cash equivalents
Money market funds		64,223		—		—			64,223
Total cash equivalents		64,223		—		—			64,223
Short-term marketable securities:
U.S. government treasuries		9,993		—		(9	)		9,984
U.S. government securities		7,004		—		(5	)		6,999
Corporate debt securities		3,126		—		(19	)		3,107
Non-U.S. government securities		1,517				(22	)		1,495
Total short-term marketable securities		21,640		—		(55	)		21,585
Total	$	85,863	$	—	$	(55	)	$	85,808


	December 31, 2021
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
	(in thousands)
Cash equivalents
Money market funds	$	42,867		—		—		$	42,867
Total cash equivalents		42,867		—		—			42,867
Short-term marketable securities:
U.S. government treasuries		9,999		—		—			9,999
U.S. government agency securities		11,697		1		(1	)		11,697
U.S. government securities		45,257		—		(16	)		45,241
Corporate debt securities		23,495		—		(20	)		23,475
Total short-term marketable securities		90,448		1		(37	)		90,412
Long-term marketable securities:
U.S. government securities		1,532		—		(10	)		1,522
Total long-term marketable securities		1,532		—		(10	)		1,522
Total	$	134,847	$	1	$	(47	)	$	134,801

As of June 30, 2022 and December 31, 2021, some of the Company’s marketable securities were in an unrealized loss position. The Company determined that it did have the ability and intent to hold all marketable securities that have been in a continuous loss position until maturity or recovery, thus there has been no recognition of any other-than-temporary impairment in the six months ended June 30, 2022. All marketable securities with unrealized losses as of each condensed balance sheet date have been in a loss position for less than twelve months or the loss is not material.

All of the Company’s marketable securities have an effective maturity of less than two years.