FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value of Financial Instruments Measured on Recurring Basis

The Company measures the fair value of money market funds using Level 1 inputs. As of June 30, 2023, the Company has two treasury bills, one with a maturity date of three months or less, which is classified as a cash equivalent, and the other with a maturity date of greater than three months, which is classified as a short-term investment. The treasury bills are valued using Level 1 inputs. Pricing sources may include industry standard data providers, security master files from large financial institutions and other third-party sources used to determine a daily market value. The following charts reflect the fair market value of cash equivalents and short-term investments as of June 30, 2023 and December 31, 2022, respectively.

	June 30, 2023
	Carrying		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Amount		(Level 1)		(Level 2)		(Level 3)		Total
Cash equivalents:
Money market fund	$	23,709	$	23,709	$	-	$	-	$	23,709
Treasury bill		5,043		5,043		-		-		5,043

Short-term investments:
Treasury bill		24,344		24,353		-		-		24,353
Total cash equivalents and short-term investments	$	53,096	$	53,105	$	-	$	-	$	53,105

	December 31, 2022
	Carrying		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Amount		(Level 1)		(Level 2)		(Level 3)		Total
Cash equivalents:
Money market fund	$	18,160	$	18,160	$	-	$	-	$	18,160
Treasury bill		10,383		10,383		-		-		10,383

Short-term investments:
Treasury bill		14,758		14,758		-		-		14,758
Total cash equivalents and short-term investments	$	43,301	$	43,301	$	-	$	-	$	43,301