Investments (Tables)

3 Months Ended

Mar. 31, 2024

Investments [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets measured at fair value on a recurring basis were as follows (in thousands):

	March 31, 2024
	Quoted Price in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Obligations of U.S. Government and its agencies	$	—	$	251,240	$	—	$	251,240
Certificates of deposit	—		981		—		981
Total assets	$	—	$	252,221	$	—	$	252,221

	December 31, 2023
	Quoted Price in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Obligations of U.S. Government and its agencies	$	—	$	277,358	$	—	$	277,358
Certificates of deposit	—		986		—		986
Total assets	$	—	$	278,344	$	—	$	278,344

Fair Value of the Company's Investments by Type

The following tables summarize the fair value of the Company’s investments by type (in thousands):

	March 31, 2024
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Obligations of U.S. Government and its agencies	$	251,425	$	45	$	1	$	(231)	$	251,240
Certificates of deposit	980		6		—		(5)		981
Total investments	$	252,405	$	51	$	1	$	(236)	$	252,221

	December 31, 2023
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Obligations of U.S. Government and its agencies	$	277,151	$	121	$	150	$	(64)	$	277,358
Certificates of deposit	980		14		—		(8)		986
Total investments	$	278,131	$	135	$	150	$	(72)	$	278,344

Schedule of the Maturity of Investments

The following table summarizes the scheduled maturity for the Company’s investments at March 31, 2024 and December 31, 2023 (in thousands):

	March 31, 2024		December 31, 2023
Maturing in one year or less	$	252,221	$	278,344
Maturing after one year through two years	—		—
Total investments	$	252,221	$	278,344