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Cash, Cash Equivalents, Restricted Cash and Investments
9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Cash, Cash Equivalents, Restricted Cash and Investments Cash, Cash Equivalents, Restricted Cash, and Investments
As of September 30, 2024, and December 31, 2023, the Company had $348.7 million and $350.7 million, respectively of cash, cash equivalents, restricted cash, and investments summarized below. As of September 30, 2024, and December 31, 2023, $311.6 million and $301.8 million were available-for-sale debt securities which are carried at fair market value.
September 30, 2024
(in thousands)Amortized CostUnrealized Gains
Unrealized Losses
Estimated Fair Value
Cash, cash equivalents, and restricted cash
$37,142 $ $ $37,142 
Corporate bonds599 2  601 
Commercial paper2,028   2,028 
Treasury bills196,311 160  196,471 
Treasury bonds112,246 259  112,505 
Total cash, cash equivalents, restricted cash, and short-term investments
348,326 421  348,747 
Total long-term investment corporate bond    
Total cash, cash equivalents, restricted cash, and investments
$348,326 $421 $ $348,747 
December 31, 2023
(in thousands)Amortized CostUnrealized GainsUnrealized LossesEstimated Fair Value
Cash, cash equivalents, and restricted cash
$48,875 $— $— $48,875 
Corporate bonds33,576 — 33,580 
Commercial paper39,305 — (1)39,304 
Treasury bills122,757 49 — 122,806 
Treasury bonds105,903 21 — 105,924 
Total cash, cash equivalents, restricted cash, and short-term investments
350,416 74 (1)350,489 
Total long-term investment corporate bond
200 — 201 
Total cash, cash equivalents, restricted cash, and investments
$350,616 $75 $(1)$350,690 

As of September 30, 2024, and December 31, 2023, accrued interest receivable from investments was $0.5 million and $0.7 million, respectively. During the three and nine months ended September 30, 2024, the Company had $0.5 million and $0.3 million of unrealized gains on available-for-sale securities, net of tax, respectively, which are included as a component of comprehensive income (loss) on the consolidated statements of operations. During the three and nine months ended September 30, 2023, the Company had $0.1 million and $0.1 million of unrealized gains on available-for-sale securities, net of tax, respectively, which are included as a component of comprehensive income (loss) on the consolidated statements of operations. Currently, the Company does not intend to sell investments that are in an unrealized loss position, and it is unlikely the Company will be required to sell the investments before recovery of their amortized cost basis, which may be at maturity. The Company has determined that the gross unrealized gains on investments at September 30, 2024, were temporary in nature. Realized gains or losses were immaterial during the three and nine months ended September 30, 2024, and 2023.
The Company's short-term investments as of September 30, 2024 mature at various dates through August 2025.