Available for Sale Debt Securities (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Summary of Available for Sale Debt Securities

The table below summarizes our available for sale debt securities recorded at fair value (in thousands):

	Cost		Unrealized Gains		Fair Value		Current Assets		Non-Current Assets		Non-Current Liabilities		Total
As of March 31, 2024
Debt securities(1)	$	359,923	$	142,777	$	502,700	$	29,000	$	473,700	$	—	$	502,700
Funding commitments(2)	(7,300)		4,080		(3,220)		—		—		(3,220)		(3,220)
Total available for sale debt securities	$	352,623	$	146,857	$	499,480	$	29,000	$	473,700	$	(3,220)	$	499,480
As of December 31, 2023
Debt securities(1)	$	359,667	$	95,733	$	455,400	$	18,300	$	437,100	$	—	$	455,400
Funding commitments(2)	(7,300)		6,400		(900)		—		—		(900)		(900)
Total available for sale debt securities	$	352,367	$	102,133	$	454,500	$	18,300	$	437,100	$	(900)	$	454,500

(1)The cost associated with the funded Cytokinetics Commercial Launch Funding reflects the fair value on the purchase date which is amortized as we received quarterly repayments on the first tranche. The cost of the Development Funding Bonds represents the amount funded.

(2)Related to Cytokinetics Funding Commitments for which related tranches remain available as of the respective balance sheet dates. The cost associated with the Cytokinetics Funding Commitments represents the fair value on the purchase date.