CASH AND CASH EQUIVALENTS

3 Months Ended

Mar. 31, 2023

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS

2. CASH AND CASH EQUIVALENTS

The Company considers only those investments that are highly liquid, readily convertible to cash, and that mature within three months from date of purchase to be cash equivalents. From time to time, the Company may have cash balances in financial institutions in excess of insurance limits. The Company has not experienced any losses related to these balances. Management believes it is not exposed to significant credit risk.

Cash and cash equivalents consisted of the following:

	March 31,		December 31,
(In thousands)	2023		2022
Cash	$	336	$	55
Money market funds		12,813		16,296
Total cash and cash equivalents	$	13,149	$	16,351

The following table provides a reconciliation of cash, cash equivalents, and restricted cash within the statement of financial position that sum to the total of the same such amounts shown in the statement of cash flows.

	March 31,		December 31,
(In thousands)	2023		2022
Cash and cash equivalents	$	13,149	$	16,351
Restricted cash included in other non-current assets (Note 3)		150		150
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	$	13,299	$	16,501