Investments

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

3. INVESTMENTS

Cash in excess of the Company’s immediate requirements is invested in accordance with the Company’s investment policy that primarily seeks to maintain adequate liquidity and preserve capital.

A summary of the Company’s available-for-sale investments as of March 31, 2023 and December 31, 2022 consisted of the following (in thousands):

	At March 31, 2023
	Amortized		Gross Unrealized		Gross Unrealized			Fair
Marketable securities:	Cost		Gains		Losses			Value
Corporate bonds	$	28,269	$	—	$	(90	)	$	28,179
Total	$	28,269	$	—	$	(90	)	$	28,179
Marketable securities, noncurrent:
Corporate bonds	$	4,047	$	—	$	(83	)	$	3,964
Total	$	4,047	$	—	$	(83	)	$	3,964
	At December 31, 2022
	Amortized		Gross Unrealized		Gross Unrealized			Fair
Marketable securities:	Cost		Gains		Losses			Value
Corporate bonds	$	27,573	$	—	$	(135	)	$	27,438
Total	$	27,573	$	—	$	(135	)	$	27,438
Marketable securities, noncurrent:
Corporate bonds	$	5,963	$	—	$	(131	)	$	5,832
Total	$	5,963	$	—	$	(131	)	$	5,832