Investments (Tables)

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Investments

Available-for-sale investments consisted of the following as of September 30, 2023 and December 31, 2022 (in thousands):

	September 30, 2023
	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
Short-term marketable securities
Commercial paper	$	2,871	$	—	$	—		$	2,871
U.S. government treasury and agency securities		273,561		1		(251	)		273,311
Corporate bonds		6,237		—		—			6,237
Total short-term marketable securities	$	282,669	$	1	$	(251	)	$	282,419

	December 31, 2022
	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
Short-term marketable securities
Commercial paper	$	9,969	$	—	$	—		$	9,969
U.S. government treasury securities		389,898		14		(4,064	)		385,848
Corporate bonds		12,415		—		(66	)		12,349
Total short-term marketable securities	$	412,282	$	14	$	(4,130	)	$	408,166

Schedule of Gross Unrealized Holding Losses and Fair Value for Investments in Unrealized Loss Position

The following table presents the gross unrealized holding losses and fair values for investments in an unrealized loss position, and the length of time individual securities have been in a continuous loss position, as of September 30, 2023 (in thousands):

	Less Than 12 Months					12 Months Or Greater
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S. government treasury and agency securities	$	222,795	$	(169	)	$	19,957	$	(82	)
Total available-for-sale securities	$	222,795	$	(169	)	$	19,957	$	(82	)