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Marketable Securities
6 Months Ended
Jun. 30, 2024
Marketable Securities  
Marketable Securities

4. Marketable Securities

The following table summarizes the Company’s investments as of June 30, 2024 (in thousands):

Gross

Amortized

Unrealized

Estimated

    

Cost

    

Gains

    

Losses

    

Fair Value

Marketable securities available-for-sale:

  

  

  

U.S. treasury obligations and government agency securities

$

97,176

$

1

$

(55)

$

97,122

Total available-for-sale securities

$

97,176

$

1

$

(55)

$

97,122

The following table summarizes the Company’s investments as of December 31, 2023 (in thousands):

Gross

Amortized

Unrealized

Estimated

    

Cost

    

Gains

    

Losses

    

Fair Value

Marketable securities available-for-sale:

U.S. treasury obligations and government agency securities

$

177,991

$

93

$

(1)

$

178,083

Total available-for-sale securities

$

177,991

$

93

$

(1)

$

178,083

The aggregate fair value of marketable securities with unrealized losses was $81.3 million and $11.9 million at June 30, 2024 and December 31, 2023, respectively. At June 30, 2024 and December 31, 2023, 47 investments and three investments, respectively, were in an unrealized loss position. All such investments have been in an unrealized loss position for less than a year and these losses are considered temporary. The Company has the ability and intent to hold these investments until a recovery of their amortized cost, which may not occur until maturity.

The Company believes that U.S. treasury obligations and government agency securities are subject to minimal credit risk. As a result, the Company did not record any charges for credit-related impairments for its available-for-sale securities for the six months ended June 30, 2024.