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Investments
 6 Months Ended
Jun. 30, 2022
Investments Debt And Equity Securities [Abstract]  
Investments

3. INVESTMENTS

Cash in excess of the Company’s immediate requirements is invested in accordance with the Company’s investment policy that primarily seeks to maintain adequate liquidity and preserve capital.

A summary of the Company’s available-for-sale investments as of June 30, 2022 and December 31, 2021 consisted of the following (in thousands):

 

 

At June 30, 2022

 

 

 

Amortized

 

 

Gross Unrealized

 

 

Gross Unrealized

 

 

Fair

 

Marketable securities:

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Corporate bonds

 

$

49,542

 

 

$

—

 

 

$

(311

)

 

$

49,231

 

Total

 

$

49,542

 

 

$

—

 

 

$

(311

)

 

$

49,231

 

Marketable securities, non-current:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

6,944

 

 

$

—

 

 

$

(56

)

 

$

6,888

 

Total

 

$

6,944

 

 

$

—

 

 

$

(56

)

 

$

6,888

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2021

 

 

 

Amortized

 

 

Gross Unrealized

 

 

Gross Unrealized

 

 

Fair

 

Marketable securities:

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Corporate bonds

 

$

37,671

 

 

$

—

 

 

$

(43

)

 

$

37,628

 

Total

 

$

37,671

 

 

$

—

 

 

$

(43

)

 

$

37,628

 

Marketable securities, non-current:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

9,082

 

 

$

—

 

 

$

(34

)

 

$

9,048

 

Total

 

$

9,082

 

 

$

—

 

 

$

(34

)

 

$

9,048

 

 

The Company incurred a realized loss on an available-for sale investment during the three and six months ending June 30, 2022 of $0.1 million, which is included in interest income, net in the consolidated statements of operations and comprehensive loss.