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Marketable Securities (Tables)
12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Marketable Securities

Marketable securities by security type consisted of the following:

 

 

 

December 31, 2022

 

(in thousands)

 

Amortized
cost

 

 

Gross
unrealized
gains

 

 

Gross
unrealized
losses

 

 

Fair
value

 

U.S. treasury bills and notes

 

$

228,432

 

 

$

13

 

 

$

(301

)

 

$

228,144

 

U.S. agency securities

 

 

211,658

 

 

 

68

 

 

 

(474

)

 

 

211,252

 

Total

 

$

440,090

 

 

$

81

 

 

$

(775

)

 

$

439,396

 

 

 

 

December 31, 2021

 

(in thousands)

 

Amortized
cost

 

 

Gross
unrealized
gains

 

 

Gross
unrealized
losses

 

 

Fair
value

 

U.S. treasury bills and notes

 

$

277,559

 

 

$

 

 

$

(218

)

 

$

277,341

 

U.S. agency securities

 

 

18,781

 

 

 

 

 

 

(10

)

 

 

18,771

 

Total

 

$

296,340

 

 

$

 

 

$

(228

)

 

$

296,112

 

The remaining contractual maturities of all marketable securities were less than 18 months as of December 31, 2022 and 2021.