Short-Term Investments

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Short-Term Investments

3. Short-Term Investments

The following tables summarize the amortized cost and estimated fair value of the Company’s U.S. government treasury securities and marketable securities, which are considered to be available-for-sale investments and are included in short-term investments on the condensed consolidated balance sheets:

	March 31, 2023
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. government treasury securities	$	63,736	$	1	$	(125	)	$	63,612
Marketable securities:
Corporate and agency bonds		23,307		—		(47	)		23,260
Totals	$	87,043	$	1	$	(172	)	$	86,872

	December 31, 2022
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. government treasury securities	$	99,288	$	1	$	(253	)	$	99,036
Marketable securities:
Corporate and agency bonds		28,748		3		(84	)		28,667
Totals	$	128,036	$	4	$	(337	)	$	127,703

Certain short-term debt securities with original maturities of less than three months are included in cash and cash equivalents on the condensed consolidated balance sheets and are not included in the tables above. The Company holds debt securities of companies with high credit quality and has determined that there was no material change in the credit risk of any of its debt securities. At March 31, 2023 and December 31, 2022, all investments had contractual maturities within one year.