Cash and Cash Equivalents and Investments The fair value of cash and cash equivalents and investments held at June 30, 2020 and December 31, 2019 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2020 | | | | | | | | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Estimated Fair Value | | | (in thousands) | | | | | | | Cash and cash equivalents | | $ | 86,943 | | | $ | — | | | $ | — | | | $ | 86,943 | | Securities maturing within one year: | | | | | | | | | U.S. treasury securities | | 110,503 | | | 312 | | | — | | | 110,815 | | Corporate debt securities | | 4,108 | | | — | | | — | | | 4,108 | | Total short-term investments | | $ | 114,611 | | | $ | 312 | | | $ | — | | | $ | 114,923 | | Total cash and cash equivalents and investments | | $ | 201,554 | | | $ | 312 | | | $ | — | | | $ | 201,866 | | | | | | | | | | | | | As of December 31, 2019 | | | | | | | | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Estimated Fair Value | | | | | (in thousands) | | | | | Cash and cash equivalents | | $ | 36,112 | | | $ | — | | | $ | — | | | $ | 36,112 | | Securities maturing within one year: | | | | | | | | | U.S. treasury securities | | 235,463 | | | 94 | | | (10) | | | 235,547 | | | | | | | | | | | Total short-term investments | | $ | 235,463 | | | $ | 94 | | | $ | (10) | | | $ | 235,547 | | Total cash and cash equivalents and investments | | $ | 271,575 | | | $ | 94 | | | $ | (10) | | | $ | 271,659 | |
There were no realized losses during either of the six months ended June 30, 2020 and 2019, respectively. The cost of securities sold is based on the specific identification method.
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