Certain Financial Statement Caption Information

9 Months Ended

Sep. 30, 2020

Certain Financial Statement Caption Information [Abstract]

Certain Financial Statement Caption Information

4. Certain Financial Statement Caption Information

Short-Term Investments

The following table summarizes the Company’s short-term investments (in thousands):

	Maturity	Amortized		Unrealized		Unrealized			Estimated
	(in years)	Cost		Gains		Losses			Fair Value
September 30, 2020
U.S. treasury securities	1 or less	$	37,095	$	29	$	(5	)	$	37,119
Certificates of deposit	1 or less		4,145		24		-			4,169
Total		$	41,240	$	53	$	(5	)	$	41,288
December 31, 2019
U.S. treasury securities	1 or less	$	23,513	$	6	$	(4	)	$	23,515
U.S. treasury securities	>1 and <5		5,035		-		(1	)		5,034
Agency securities	1 or less		5,976		19		(1	)		5,994
Certificates of deposit	1 or less		4,131		22		-			4,153
Certificates of deposit	>1 and <5		1,220		8		-			1,228
Total		$	39,875	$	55	$	(6	)	$	39,924

All of the Company’s available-for-sale securities are available to the Company for use in its current operations. As a result, the Company categorizes all of these securities as current assets even though the stated maturity of some individual securities may be one year or more beyond the balance sheet date. All of the Company’s securities have a maturity within two years of the balance sheet date.

There were no impairments considered other-than-temporary during the periods presented, as it is management’s intention and ability to hold the securities until a recovery of the cost basis or recovery of fair value. For the three and nine months ended September 30, 2020, there were net gross realized gains on short-term investments totaling $0 and $13,000, respectively. There were no gross realized gains and losses on sales of short-term investments for the three and nine months ended September 30, 2019. Unrealized losses and gains are included in accumulated other comprehensive (loss) income.

Accrued Expenses

Accrued expenses consisted of the following (in thousands):

	September 30,		December 31,
	2020		2019
Accrued payroll and other employee benefits	$	1,598	$	1,215
Clinical studies		756		442
Other accruals		191		267
Accrued interest		69		71
Preclinical research		17		15
Total accrued expenses	$	2,631	$	2,010