INVESTMENTS

9 Months Ended

Sep. 30, 2024

INVESTMENTS.

INVESTMENTS

4. INVESTMENTS

The following table summarizes the Company’s investments at December 31, 2023.  The Company held no short-term or long-term investments at September 30, 2024.

									Continuous		Continuous
			Gross		Gross				Unrealized		Unrealized
			Unrealized		Unrealized				Loss Position		Loss Position
	Amortized		Holding		Holding		Fair		less than		greater than
December 31, 2023	Cost		Gains		Losses		Value		12 Months		12 Months
Available-for-sale
Short-term:
Commercial paper	$	163,775	$	—	$	1	$	163,774	$	1	$	—
Certificates of deposit		15,590		—		—		15,590		—		—
Municipal securities		361		—		—		361		—		—
U.S. government agency securities		116,524		90		66		116,548		66		—
U.S. treasuries		412,936		205		1,084		412,057		1,084		—
Corporate bonds		247,340		89		154		247,275		154		—
Long-term:
U.S. government agency securities		23,485		51		5		23,531		5		—
U.S. treasuries		35,896		79		8		35,967		8		—
Corporate bonds		16,903		32		2		16,933		2		—
Total	$	1,032,810	$	546	$	1,320	$	1,032,036	$	1,320	$	—

During the three-and nine-months ended September 30, 2024 and 2023, realized gains or losses recognized on the sale of investments were not significant.

The Company’s investments at December 31, 2023 carried investment grade credit ratings.

The following table summarizes the underlying contractual maturities of the Company’s investments at December 31, 2023. The Company held no short-term or long-term investments at September 30, 2024.

	December 31, 2023
	Amortized Cost		Fair Value
Less than 1 year:
Commercial paper	$	163,775	$	163,774
Municipal securities		361		361
U.S. government agency securities		116,524		116,548
Certificates of deposit		15,590		15,590
U.S. treasuries		412,936		412,057
Corporate bonds		247,340		247,275
Due 1 - 10 years:
U.S. treasuries		35,896		35,967
U.S. government agency securities		23,485		23,531
Corporate bonds		16,903		16,933
Total	$	1,032,810	$	1,032,036