Quarterly report pursuant to Section 13 or 15(d)

CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

v3.22.1
CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
3 Months Ended
Mar. 31, 2022
CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS  
CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

5. CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

The Company’s cash equivalents and short-term investments are invested in the following (in thousands):

    

March 31, 2022

    

Amortized Cost

    

Unrealized Gains

    

Unrealized Losses

    

Fair Value

Money market funds

$

87,581

$

$

$

87,581

Total cash equivalents

87,581

87,581

Commercial paper

56,282

56,282

Corporate bonds

16,140

(32)

16,108

Government bonds

17,274

(3)

17,271

Asset-backed securities

7,516

(2)

7,514

Total short-term investments

97,212

(37)

97,175

Total cash equivalents and short-term investments

$

184,793

$

$

(37)

$

184,756

    

December 31, 2021

    

Amortized Cost

    

Unrealized Gains

    

Unrealized Losses

    

Fair Value

Money market funds

$

46,521

$

$

$

46,521

Total cash equivalents

46,521

46,521

Commercial paper

70,401

70,401

Corporate bonds

65,645

(28)

65,617

Government bonds

36,487

(11)

36,476

Asset-backed securities

24,665

(10)

24,655

Total short-term investments

197,198

(49)

197,149

Total cash equivalents and short-term investments

$

243,719

$

$

(49)

$

243,670

During the year ended December 31, 2021, the Company made a $20.0 million investment in equity securities of a publicly-traded company. The Company records this investment at fair value, which was $5.7 million as of March 31, 2022. Prior to the investment, the Company entered into a subscription agreement to purchase the investment, resulting in a subscription agreement liability which was derecognized upon investment. During the three months ended March 31, 2022, the Company recorded an unrealized loss due to the change in fair value of the equity securities of $1.7 million in interest and other (expense) income, net in the consolidated statements of operations.