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MARKETABLE SECURITIES
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES MARKETABLE SECURITIES

The amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of our marketable securities by type of security as of September 30, 2024 and December 31, 2023 was as follows:
SEPTEMBER 30, 2024
(in thousands)Fair Value Hierarchy LevelAmortized CostGross Unrealized Holding GainsGross Unrealized Holding Losses Fair Value
Money market fundsLevel 1$18,879 $— $— $18,879 
U.S. treasury securitiesLevel 129,696 104 — 29,800 
U.S. government agency securitiesLevel 219,954 66 (1)20,019 
$68,529 $170 $(1)$68,698 
DECEMBER 31, 2023
(in thousands)Fair Value Hierarchy LevelAmortized CostGross Unrealized Holding GainsGross Unrealized Holding Losses Fair Value
Money market fundsLevel 1$14,538 $— $— $14,538 
U.S. treasury securitiesLevel 135,976 48 (6)36,018 
U.S. government agency securitiesLevel 251,434 31 (58)51,407 
$101,948 $79 $(64)$101,963 
The fair values of marketable securities by classification in the condensed consolidated balance sheets was as follows as of September 30, 2024 and December 31, 2023:
(in thousands)SEPTEMBER 30, 2024DECEMBER 31, 2023
Cash and cash equivalents$18,879 $16,528 
Marketable securities49,819 85,435 
$68,698 $101,963 
The fair values of available-for-sale debt securities as of September 30, 2024 and December 31, 2023, by contractual maturity, are summarized as follows:
(in thousands)SEPTEMBER 30, 2024DECEMBER 31, 2023
Due in one year or less$62,297 $98,110 
Due after one year through two years6,401 3,853 
$68,698 $101,963 
The aggregate fair value of available-for-sale debt securities in an unrealized loss position as of September 30, 2024 and December 31, 2023 was $2.0 million and $40.0 million, respectively. As of September 30, 2024, we did not have any investments in a continuous unrealized loss position for more than twelve months. As of September 30, 2024, we believe that the cost basis of our available-for-sale debt securities is recoverable. No allowance for credit losses was recorded as of September 30, 2024 and December 31, 2023.