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Marketable Securities
 12 Months Ended
Dec. 31, 2022
Debt Securities, Available-for-Sale [Abstract]  
Marketable Securities

5. Marketable Securities

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2022

 

 

 

Amortized Cost

 

 

Unrealized Gain

 

 

Unrealized Losses

 

 

Fair Value

 

Marketable Securities

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury obligations

 

$

59,422

 

 

$

—

 

 

$

(304

)

 

$

59,118

 

U.S. Government agency securities

 

 

15,000

 

 

 

—

 

 

 

(59

)

 

 

14,941

 

Commercial paper

 

 

310,433

 

 

 

—

 

 

 

—

 

 

 

310,433

 

Corporate bonds

 

 

61,504

 

 

 

—

 

 

 

(255

)

 

 

61,249

 

Asset-backed securities

 

 

12,574

 

 

 

—

 

 

 

(66

)

 

 

12,508

 

Total

 

$

458,933

 

 

$

—

 

 

$

(684

)

 

$

458,249

 

 

As of December 31, 2022, the Company held 15 securities that were in an unrealized loss position of $684 with an aggregate fair value of $143,221. The Company has the intent and ability to hold such securities until recovery. As a result, the Company did not record any charges for credit-related impairments for its marketable debt securities for the year ended December 31, 2022. The Company had no marketable securities prior to July 2022.

 

As of December 31, 2022, none of the securities had remaining maturities longer than one year. The Company did not hold any marketable securities as of December 31, 2021.

The Company received proceeds of $91,885 from sales and maturities of marketable securities during the year ended December 31, 2022.