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Marketable Securities (Tables)
6 Months Ended
Jun. 30, 2023
Marketable Securities [Abstract]  
Summary of Marketable Securities

The following tables summarize the gross unrealized gains, unrealized losses and credit losses of the Company’s marketable securities as of June 30, 2023 and December 31, 2022 (in thousands):

June 30, 2023

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Credit Losses

 

 

Fair Value

 

U.S. Treasury securities

 

$

32,689

 

 

$

 

 

$

(59

)

 

$

 

 

$

32,630

 

Federal agency securities

 

 

143,820

 

 

 

80

 

 

 

(47

)

 

 

 

 

 

143,853

 

Total financial assets

 

$

176,509

 

 

$

80

 

 

$

(106

)

 

$

 

 

$

176,483

 

 

December 31, 2022

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Credit Losses

 

 

Fair Value

 

U.S. Treasury securities

 

$

107,973

 

 

$

13

 

 

$

(115

)

 

$

 

 

$

107,871

 

Federal agency securities

 

 

172,214

 

 

 

39

 

 

 

(209

)

 

 

 

 

 

172,044

 

Total financial assets

 

$

280,187

 

 

$

52

 

 

$

(324

)

 

$

 

 

$

279,915

 

The Company did not record any charges for credit-related impairments for its available-for-sale securities during the three and six months ended June 30, 2023.