Marketable Debt Securities

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Marketable Debt Securities

7. Marketable Debt Securities

Marketable debt securities, all of which were classified as available-for-sale, consist of the following (in thousands):

	December 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses			Aggregate Fair Value
Marketable debt securities
U.S. Treasury securities	$	109,571	$	71	$	(8	)	$	109,634

As of December 31, 2022, the Company did not have marketable debt securities.

As of December 31, 2023, the remaining contractual terms of the U.S. Treasury securities were less than 12 months. As of December 31, 2023, the Company held one security in an unrealized loss position of $8 thousand and had a fair value of $41.7 million. There were no securities in a continuous unrealized loss position for greater than twelve months at December 31, 2023.

To date, we have not recognized any allowances for credit losses or impairments in relation to our marketable securities as these securities are comprised of high credit quality, investment grade securities that we do not intend or expect to be required to sell prior to their anticipated recovery, and the decline in fair value of these securities is attributable to factors other than credit losses.

Interest and Investment Income

Interest and investment income consisted of the following (in thousands):

	Year Ended December 31,
	2023		2022
Interest income	$	1,842	$	2,764
Accretion of discount, net		4,788		—
Total interest and investment income	$	6,630	$	2,764