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Cash Equivalents and Marketable Securities (Tables)
6 Months Ended
Jun. 30, 2023
Investments Debt And Equity Securities [Abstract]  
Schedule of Estimated Fair Value of Cash Equivalents and Marketable Securities

The following tables summarize the estimated fair value of the Company’s cash equivalents and marketable securities and the gross unrealized gains and losses (in thousands):

 

 

June 30, 2023

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair Value

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

18,861

 

 

$

 

 

$

 

 

$

18,861

 

Total cash equivalents

 

$

18,861

 

 

$

 

 

$

 

 

$

18,861

 

 

 

 

 

 

 

 

December 31, 2022

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair Value

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

15,250

 

 

$

 

 

$

 

 

$

15,250

 

Commercial paper

 

 

7,021

 

 

 

1

 

 

 

(2

)

 

 

7,020

 

U.S. government securities

 

 

3,736

 

 

 

 

 

 

(1

)

 

 

3,735

 

Total cash equivalents

 

$

26,007

 

 

$

1

 

 

$

(3

)

 

$

26,005

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

$

16,644

 

 

$

2

 

 

$

(25

)

 

$

16,621

 

Corporate bonds

 

 

3,738

 

 

 

 

 

 

(6

)

 

 

3,732

 

U.S. government securities

 

 

495

 

 

 

 

 

 

 

 

 

495

 

Total marketable securities

 

$

20,877

 

 

$

2

 

 

$

(31

)

 

$

20,848

 

Schedule of Gross Unrealized Losses and Fair Value by Investment Category and Age The following table summarizes the available-for-sale securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2022, aggregated by major security type and length of time in a continuous unrealized loss position:

 

 

 

December 31, 2022

 

 

 

Less Than 12 Months

 

 

12 Months or Longer

 

 

Total

 

 

 

Fair Value

 

 

Unrealized
Losses

 

 

Fair Value

 

 

Unrealized
Losses

 

 

Fair Value

 

 

Unrealized
Losses

 

Commercial paper

 

$

17,699

 

 

$

(27

)

 

$

 

 

$

 

 

$

17,699

 

 

$

(27

)

U.S. government securities

 

 

3,735

 

 

 

(1

)

 

 

 

 

 

 

 

 

3,735

 

 

$

(1

)

Corporate bonds

 

 

3,732

 

 

 

(6

)

 

 

 

 

 

 

 

 

3,732

 

 

 

(6

)

Total marketable securities

 

$

25,166

 

 

$

(34

)

 

$

 

 

$

 

 

$

25,166

 

 

$

(34

)

Summary of Contractual Maturities of Marketable Securities at Estimated Fair Value

The following table summarizes the contractual maturities of the Company’s marketable securities at estimated fair value (in thousands):

 

 

 

June 30,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Due in one year or less

 

$

 

 

$

20,848

 

Due thereafter

 

 

 

 

 

 

Total marketable securities

 

$

 

 

$

20,848