Financial Instruments

3 Months Ended

Mar. 31, 2024

Investments, All Other Investments [Abstract]

Financial Instruments

3. Financial Instruments

The following tables summarize the Company’s cash and fair value by significant category reported as cash and cash equivalents and restricted cash as of March 31, 2024, and December 31, 2023:

	March 31, 2024
	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	$	1,662	$	-	$	-	$	1,662	$	1,662	$	-	$	-	$	-
Level 2
Money market funds		16,584		-		-		16,584		15,971		525		-		88
Subtotal		16,584		-		-		16,584		15,971		525		-		88
Total assets measured at fair value	$	18,246	$	-	$	-	$	18,246	$	17,633	$	525	$	-	$	88

	December 31, 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	$	2,122	$	-	$	-	$	2,122	$	2,122	$	-	$	-	$	-
Level 2
Money market funds		18,440		-		-		18,440		17,696		525		-		219
Subtotal		18,440		-		-		18,440		17,696		525		-		219
Total assets measured at fair value	$	20,562	$	-	$	-	$	20,562	$	19,818	$	525	$	-	$	219

Interest income was approximately $0.2 million and $1.1 million during the three months ended March 31, 2024, and the year ended December 31, 2023, respectively.

As of March 31, 2024, and December 31, 2023, 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.