Marketable Securities and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Debt Securities [Abstract]

Summary of Marketable Securities

The following table summarizes the Company’s marketable securities (in thousands):

	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Marketable securities:
Corporate debt securities	$	255,613	$	60	$	(3,240	)	$	252,433
U.S. Treasury notes		151,873		—		(2,306	)		149,567
Other		9,975		—		(74	)		9,901
	$	417,461	$	60	$	(5,620	)	$	411,901

For the year ending December 31, 2022, the Company recognized total interest income of $14.5 million, of which $8.1 million was related to its marketable securities investments and $6.4 million was related to interest on cash and cash equivalent balances. At December 31, 2022, substantially all the Company's investment positions were in an unrealized loss position.

Summarizes Marketable Securities Maturity

The following table summarizes the Company’s marketable securities maturity as of December 31, 2022 (in thousands):

Year	Amortized Cost		Fair Value
2023	$	128,537	$	127,517
2024		141,385		139,332
2025		147,539		145,052
	$	417,461	$	411,901

Summary of fair value assets measured on recurring basis

The table below summarizes the Company’s financial instruments measured at fair value on a recurring basis (in thousands):

	December 31, 2022
	Level 1		Level 2		Level 3
Marketable securities:
Corporate debt securities	$	—	$	252,433	$	—
U.S. Treasury notes		149,567		—		—
Other		9,901		—		—
	$	159,468	$	252,433	$	—