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Marketable Securities and Investments
6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities and Investments
3. Marketable Securities and Investments
No marketable securities were held as of June 30, 2023. The following table summarizes the marketable securities held as of December 31, 2022 (in thousands):
 
    
Amortized

cost
    
Unrealized
losses
    
Fair

value
 
December 31, 2022
        
U.S. government agency securities and treasuries
   $ 13,566      $ (9    $ 13,557  
Corporate bonds
   $ 1,953      $ (2    $ 1,951  
Commercial paper
     12,656        —          12,656  
  
 
 
    
 
 
    
 
 
 
Total
   $ 28,175      $ (11    $ 28,164  
  
 
 
    
 
 
    
 
 
 
Investments
As of June 30, 2023 and December 31, 2022, the Company has a $2.0 million investment in Cyrus Biotechnology, Inc., or Cyrus, pursuant to an investment agreement entered into in connection with the Collaboration and License Agreement with Cyrus. The Company’s maximum exposure to loss related to this variable interest entity is limited to the carrying value of the investment.