XML 25 R14.htm IDEA: XBRL DOCUMENT v3.24.1.u1
MARKETABLE SECURITIES
 3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES MARKETABLE SECURITIES
As of March 31, 2024 and December 31, 2023, marketable securities consisted of U.S. Government and agency bonds as well as U.S. Treasury bills.
The following table sets forth the Company’s marketable securities:
March 31,December 31,
(in thousands)20242023
U.S. Government and agency debt securities$42,449 $31,886 
U.S. Treasury bills24,436 30,747 
Total$66,885 $62,633 
As of March 31, 2024 and December 31, 2023, the amortized cost, gross unrealized gains, gross unrealized losses and fair value were as follows:
March 31, 2024
(in thousands)Amortized
cost		Gross Unrealized GainsGross Unrealized LossesFair Value
U.S. Government and agency debt securities$42,514 $— $(65)$42,449 
U.S. Treasury bills24,441 — (5)24,436 
Total$66,955 $— $(70)$66,885 
December 31, 2023
(in thousands)Amortized
cost		Gross Unrealized GainsGross Unrealized LossesFair Value
U.S. Government and agency debt securities$31,866 $30 $(10)$31,886 
U.S. Treasury bills30,742 5 — 30,747 
Total$62,608 $35 $(10)$62,633 
As of March 31, 2024, $66.9 million of the marketable securities were in an unrealized loss position. As of December 31, 2023, $62.6 million of the marketable securities were in an unrealized gain position. The Company determined that unrealized gains and losses on marketable securities were primarily due to interest rate changes. No allowance for credit losses related to any of these securities was recorded for the periods ended March 31, 2024 and December 31, 2023. All maturities are less than 12 months.