Summary of Financial Assets Recognized at Fair Value on Recurring Basis |
he Company’s financial assets recognized at fair value on a recurring basis consisted of the following:
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March 31, 2024 |
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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(In thousands) |
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Assets |
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Cash equivalents and restricted cash equivalents |
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$ |
143,500 |
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$ |
143,500 |
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$ |
- |
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$ |
- |
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Marketable securities: |
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U.S. Treasury and other government-backed securities |
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401,111 |
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179,434 |
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221,677 |
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- |
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Financial institution debt securities |
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213,765 |
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- |
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213,765 |
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- |
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Corporate debt securities |
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112,077 |
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- |
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112,077 |
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- |
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Other asset-backed securities |
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54,452 |
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- |
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54,452 |
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- |
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Total marketable securities |
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781,405 |
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179,434 |
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601,971 |
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- |
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Investment in Kyverna Therapeutics, Inc. |
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29,158 |
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29,158 |
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- |
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- |
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Total assets |
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$ |
954,063 |
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$ |
352,092 |
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$ |
601,971 |
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$ |
- |
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December 31, 2023 |
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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(In thousands) |
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Assets |
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Cash equivalents and restricted cash equivalents |
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$ |
136,254 |
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$ |
136,254 |
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$ |
- |
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$ |
- |
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Marketable securities: |
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U.S. Treasury and other government-backed securities |
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382,308 |
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120,556 |
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261,752 |
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- |
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Financial institution debt securities |
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246,119 |
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- |
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246,119 |
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- |
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Corporate debt securities |
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97,408 |
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- |
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97,408 |
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- |
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Other asset-backed securities |
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59,504 |
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- |
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59,504 |
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- |
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Total marketable securities |
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785,339 |
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120,556 |
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664,783 |
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- |
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Total assets |
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$ |
921,593 |
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$ |
256,810 |
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$ |
664,783 |
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$ |
- |
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