Financial Instruments

9 Months Ended

Sep. 30, 2024

Investments, All Other Investments [Abstract]

Financial Instruments

4. 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 September 30, 2024, and December 31, 2023:

	September 30, 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	$	1,656	$	-	$	-	$	1,656	$	1,656	$	-	$	-	$	-
Level 2
Money market funds		9,357		-		-		9,357		9,007		350		-		-
Subtotal		9,357		-		-		9,357		9,007		350		-		-
Total assets measured at fair value	$	11,013	$	-	$	-	$	11,013	$	10,663	$	350	$	-	$	-

	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 $0.6 million and $1.1 million during the nine months ended September 30, 2024, and the year ended December 31, 2023, respectively.

As of September 30, 2024, and December 31, 2023, the Company did not have any financial assets classified as Level 1 or Level 3. The contingent consideration is carried at fair value and is a Level 3 financial liability. See further discussion of the contingent consideration in Note 3.