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Restricted Cash
12 Months Ended
Dec. 31, 2023
Restricted Cash and Cash Equivalents [Abstract]  
Restricted Cash

5. Restricted cash

The Company maintains standby letters of credit that are collateralized with a bank account at a financial institution in accordance with certain lease agreements. The aggregate amount of such standby letters of credit was $3.8 million and $10.5 million as of December 31, 2023 and 2022, respectively. The Company terminated the Fremont lease in the third quarter of 2023, and as a result, the Company’s letter of credit of $6.7 million related to the Fremont lease was returned to the Company and included in cash and cash equivalents.