XML 39 R28.htm IDEA: XBRL DOCUMENT v3.24.3
FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 30, 2024
FAIR VALUE MEASUREMENTS:  
Schedule of Assets Measured at Fair Value on a Recurring Basis (in Thousands):

Fair Value Measurements Using

Quoted

Prices in

Active

Significant

Markets for

Other

Identical

Observable

Significant

September 30, 

Assets

Inputs

Unobservable

Assets

    

2024

    

(Level 1)

    

(Level 2)

    

Inputs (Level 3)

Cash equivalents

 

  

 

  

 

  

 

  

Money market mutual funds

$

80,830

$

80,830

$

$

Short-term investments (available-for-sale debt securities)

 

  

 

  

 

  

 

  

U.S. Government securities (1)

 

23,724

 

23,724

 

 

Non-current assets

Convertible note receivable (available-for-sale debt security) (2)

2,013

2,013

Total

$

106,567

$

104,554

$

$

2,013

Fair Value Measurements Using

Quoted

Prices in

Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

December 31, 

Assets

Inputs

Inputs 

Assets

    

2023

    

(Level 1)

    

(Level 2)

    

(Level 3)

Cash equivalents

 

  

 

  

 

  

 

  

Money market mutual funds

$

83,810

$

83,810

$

$

Short-term investments (available-for-sale debt securities)

  

 

  

 

  

 

  

U.S. Government securities (1)

36,544

 

36,544

 

 

Total

$

120,354

$

120,354

$

$

(1)As of September 30, 2024, and December 31, 2023, the amortized cost of the Company’s investments in U.S. Government securities approximated their fair value due to their short-term maturities, and there have been no events or changes in circumstances that would have had a significant effect on the fair value of these securities in the periods presented. For the three and nine months ended September 30, 2024, there were no material realized or unrealized gains or losses, either individually or in the aggregate.
(2)In August 2024, the Company purchased a $2.0 million non-marketable convertible promissory note from an unrelated third party (the “convertible note”). The convertible note bears a 5% interest rate annually and will mature in August 2026 and is included in other non-current assets in the accompanying condensed consolidated balance sheet as of September 30, 2024. As of September 30, 2024, the cost of the convertible note approximated its fair value as there have been no events or changes in circumstances that would have had a significant effect on its fair value from its issuance date to reporting period end.