Cash, Cash Equivalents and Investments

6 Months Ended

Jun. 30, 2023

Cash, Cash Equivalents and Investments

Cash, Cash Equivalents and Investments

4.           Cash, Cash Equivalents and Investments

The fair value and the amortized cost of cash, cash equivalents and available-for-sale investments by major security type consist of the following (in thousands):

			Gross		Gross		Estimated		Cash and
	Amortized		Unrealized		Unrealized		Fair		Cash		Short-term
June 30, 2023	Cost		Gains		Losses		Value		Equivalents		Investment
Cash, cash equivalents and money market funds	$	27,686	$	—	$	—	$	27,686	$	27,686	$	—
Available-for-sale:
U.S. Treasury securities		10,847		2		—		10,849		—		10,849
Total	$	38,533	$	2	$	—	$	38,535	$	27,686	$	10,849

			Gross		Gross		Estimated		Cash and
	Amortized		Unrealized		Unrealized		Fair		Cash		Short-term
December 31, 2022	Cost		Gains		Losses		Value		Equivalents		Investment
Cash, cash equivalents and money market funds	$	30,819	$	—	$	—	$	30,819	$	30,819	$	—
Available-for-sale:
U.S. Treasury securities		37,458		—		(261)		37,197		—		37,197
Corporate debt securities		1,999		—		(3)		1,996		—		1,996
Certificates of deposit		485		—		(2)		483		—		483
Total	$	70,761	$	—	$	(266)	$	70,495	$	30,819	$	39,676

The Company evaluated the securities for other-than-temporary impairment and considered the decline in market value for the securities to be primarily attributable to current economic and market conditions. It is not more likely than not that the Company will be required to sell the securities, and the Company has no intention to do so prior to the recovery of the amortized cost basis. Based on this analysis, these marketable securities were not considered to be other-than-temporarily impaired as of June 30, 2023.