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Cash Equivalents And Marketable Securities (Tables)
12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Summarizes the Unrealized Gains and Losses in Fair Value of the Company's Investments in Debt Securities

The following table presents the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

 

December 31, 2023

 

 

 

Fair Value Hierarchy Level

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Estimated Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

Level 1

 

$

44,650

 

 

$

-

 

 

$

-

 

 

$

44,650

 

U.S. Government bonds

 

Level 2

 

 

63,619

 

 

 

70

 

 

 

(6

)

 

 

63,683

 

U.S. Government agency securities

 

Level 2

 

 

19,665

 

 

 

7

 

 

 

(14

)

 

 

19,658

 

Corporate debt securities

 

Level 2

 

 

31,500

 

 

 

194

 

 

 

-

 

 

 

31,694

 

Total cash equivalents and marketable securities

 

 

 

$

159,434

 

 

$

271

 

 

$

(20

)

 

$

159,685

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

 

Fair Value Hierarchy Level

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Estimated Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

Level 1

 

$

42,495

 

 

$

-

 

 

$

-

 

 

$

42,495

 

U.S. Government bonds

 

Level 2

 

 

71,418

 

 

 

1

 

 

 

(225

)

 

 

71,194

 

Total cash equivalents and marketable securities

 

 

 

$

113,913

 

 

$

1

 

 

$

(225

)

 

$

113,689

 

Schedule of Estimated Fair Value of Investments in Available-for-sale Marketable Debt Securities

The following table classifies the estimated fair value of investments in available-for-sale marketable debt securities by effective contractual maturity dates (in thousands):

 

 

December 31, 2023

 

Due within one year

 

$

93,845

 

Due after one year to two years

 

 

21,190

 

Total marketable securities

 

$

115,035