Short-Term Investments

6 Months Ended

Dec. 31, 2019

Investments Debt And Equity Securities [Abstract]

SHORT-TERM INVESTMENTS

NOTE 4 – SHORT-TERM INVESTMENTS

Short-term investments consisted of the following as of the dates presented (in thousands):

	December 31, 2019
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
U.S. treasury securities	$	42,648	$	38	$	—		$	42,686
Corporate bonds		17,378		7		(3	)		17,382
Asset-backed securities		8,069		1		(3	)		8,067
	$	68,095	$	46	$	(6	)	$	68,135

	June 30, 2019
	Amortized cost		Gross unrealized gains		Fair value
U.S. treasury securities	$	64,683	$	75	$	64,758
Corporate bonds		4,787		—		4,787
Asset-backed securities		2,424		—		2,424
	$	71,894	$	75	$	71,969

The amortized cost and fair value amounts include accrued interest receivable of $0.3 million and $0.2 million as of December 31, 2019 and June 30, 2019, respectively.

The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2019 (in thousands):

	December 31, 2019
	Fair value		Unrealized Losses
Corporate bonds	$	4,498	$	(3	)
Asset-backed securities		3,951		(3	)
Total	$	8,449	$	(6	)

Investments with unrealized losses have been in a continuous unrealized loss position for less than 12 months. The Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity. Therefore, the Company does not consider those unrealized investment losses as other-than-temporary impairment of the investments. There have been no significant realized gains or losses on the short-term investments during the three or six months ended December 31, 2019 and 2018.