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Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Summary of Assets Measured at Fair Value on a Recurring Basis

The following tables show assets measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022:

 

 

 

June 30, 2023

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

6,680

 

 

$

 

 

$

 

Treasury bills

 

 

 

 

 

2,996

 

 

 

 

Totals

 

$

6,680

 

 

$

2,996

 

 

$

 

 

 

 

 

 

 

 

 

 

Short-term investments:

 

 

 

 

 

 

 

 

 

Treasury bills and note

 

$

 

 

$

8,837

 

 

$

 

Totals

 

$

 

 

$

8,837

 

 

$

 

 

 

 

December 31, 2022

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

18,148

 

 

$

 

 

$

 

Totals

 

$

18,148

 

 

$

 

 

$

 

Summary of Carrying Values and Fair Values of Financial Instruments

The following table summarizes the carrying values and fair values of the Company's financial instruments:

 

 

 

June 30, 2023

 

(in thousands)

 

Amortized
Cost

 

 

Allowance for Credit Losses

 

 

Net Carrying Amount

 

 

Gross Unrealized
Gains

 

 

Gross Unrealized
Losses

 

 

Fair
Value

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Treasury bills and note

 

$

8,837

 

 

$

 

 

$

8,837

 

 

$

 

 

$

 

 

$

8,837

 

Total short-term investments

 

$

8,837

 

 

$

 

 

$

8,837

 

 

$

 

 

$

 

 

$

8,837