Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Marketable Securities

The following table summarizes the Company’s available-for-sale marketable securities as of March 31, 2024 and December 31, 2023:

	As of March 31, 2024
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Marketable securities:
Short-term investments:
U.S. government securities	$	194,887	$	—	$	(34)	$	194,853
Corporate debt securities	19,499		—		(22)		19,477
Commercial paper	104,220		2		—		104,222
Long-term investments:
U.S. government securities	103,922		—		(58)		103,864
Corporate debt securities	32,541		—		(1)		32,540
Total	$	455,069	$	2	$	(115)	$	454,956

	As of December 31, 2023
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Marketable securities:
Short-term investments:
U.S. government securities	$	228,579	$	212	$	—	$	228,791
Corporate debt securities	9,629		2		—		9,631
Commercial paper	64,724		3		—		64,727
Long-term investments:
U.S. government securities	141,102		755		—		141,857
Corporate debt securities	41,310		219		—		41,529
Total	$	485,344	$	1,191	$	—	$	486,535