Marketable Securities

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

3. MARKETABLE SECURITIES

The amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of our marketable securities by type of security as of March 31, 2022 was as follows:
 

	March 31, 2022
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. treasury securities	$	89,610	$	1	$	(123	)	$	89,488
Money market funds		11,175		—		—			11,175
	$	100,785	$	1	$	(123	)	$	100,663

The fair values of marketable securities by classification in the condensed consolidated balance sheets was as follows:
 

(in thousands)	March 31, 2022
Cash and cash equivalents	$	20,679
Marketable securities		79,984
	$	100,663

The fair values of available-for-sale debt securities as of March 31, 2022 , by contractual maturity, are summarized as follows:
 

	March 31, 2022
Due in one year or less	$	100,663
Due after one year through two years		—
	$	100,663

The aggregate fair value of available-for-sale debt securities in an unrealized loss position as of March 31, 2022 was $70.0 million. We did not have any investments in a continuous unrealized loss position for more than twelve months as of March 31, 2022. As of March 31, 2022, we believe that the cost basis of our available-for-sale debt securities is recoverable. No allowance for credit losses was recorded as of March 31, 2022.