Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Investments, All Other Investments [Abstract]

Schedule of Cash and Held to Maturity Securities

The following table summarizes the Company’s cash and held to maturity securities’ amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category reported as cash and cash equivalents, restricted cash and investments as of June 30, 2023, and December 31, 2022:

	June 30, 2023
	Valuation									Reported as:
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash and Cash Equivalents		Restricted Cash- current		Short-term Investments		Restricted Cash
Cash	$	1,404	$	-	$	-		$	1,404	$	1,404	$	-	$	-	$	-
Level 2
Money market funds		22,523				(4	)		22,519		21,473		569		-		481
Subtotal		22,523		-		(4	)		22,519		21,473		569		-		481
Total assets measured at fair value	$	23,927	$	-	$	(4	)	$	23,923	$	22,877	$	569	$	-	$	481

	December 31, 2022
	Valuation									Reported as:
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash and Cash Equivalents		Restricted Cash- current		Short-term Investments		Restricted Cash
Cash	$	3,258	$	-	$	-		$	3,258	$	3,258	$	-	$	-	$	-
Level 2
Money market funds		1,615		-		-			1,615		346		525		-		744
US treasury securities		14,833		2		(2	)		14,833		4,982		-		9,851		-
Corporate debt securities		9,993		-		(6	)		9,987		-		-		9,993		-
Subtotal		26,441		2		(8	)		26,435		5,328		525		19,844		744
Total assets measured at fair value	$	29,699	$	2	$	(8	)	$	29,693	$	8,586	$	525	$	19,844	$	744

Interest income recorded for these investments was approximately $0.6 million and $0.5 million during the six months ended June 30, 2023, and the year ended December 31, 2022, respectively.

As of June 30, 2023 and December 31, 2022, the Company did not have any financial assets classified as Level 1 or Level 3 nor did the Company have financial liabilities valued at fair value on a recurring basis.