INVESTMENTS

9 Months Ended

Sep. 30, 2025

5. INVESTMENTS

The carrying value and amortized cost of the Company’s available-for-sale debt securities, summarized by type of security, consisted of the following:


	September 30, 2025
		Amortized	Unrealized	Unrealized		Fair
		Cost	Gains	Losses		Value
Short-term:
Commercial paper	$	10,268	6	—	$	10,274
Corporate debt securities		15,301	10	(3)		15,308
Total short-term investments	$	25,569	16	(3)	$	25,582

Long-term:
Commercial paper	$	796	1	—	$	797
Corporate debt securities		87,378	276	(1)		87,653
U.S. government securities		17,313	68	—		17,381
Total long-term investments	$	105,487	345	(1)	$	105,831


	December 31, 2024
		Amortized	Unrealized	Unrealized		Fair
		Cost	Gains	Losses		Value
Short-term:
Commercial paper	$	7,670	9	(1)	$	7,678
Corporate debt securities		6,495	12	—		6,507
Total short-term investments	$	14,165	21	(1)	$	14,185

Long-term:
Corporate debt securities		86,700	192	(142)		86,750
U.S. government securities		22,128	11	(15)		22,124
Total long-term investments	$	108,828	203	(157)	$	108,874

The Company classifies investments with an original maturity of less than one year as current and investments with an original maturity date of greater than one year as noncurrent in its unaudited condensed consolidated balance sheet. The investments classified as noncurrent have original maturity dates ranging from 1-2 years. The Company did not have any available-for-sale debt security investments in a continuous unrealized loss position of greater than 12 months as of September 30, 2025, and December 31, 2024, respectively.

Harmony Biosciences Holdings, Inc. 10-Q