Investments

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Available-for-sale securities

The Company’s portfolio of available-for-sale marketable securities consists of the following:


	September 30, 2023
	Amortized Cost		Gross unrealized				Estimated Fair Value
(In thousands)			Gains		Losses
Available-for-sale securities, current portion
U.S. government securities	$	5,030	$	-	$	2	$	5,028
Corporate debt securities	15,901		1		4		15,898
Other debt securities	868		-		-		868
Total short-term	21,799		1		6		21,794

Available-for-sale securities, long-term
Other debt securities	1,158		2		4		1,156
Total marketable securities	$	22,957	$	3	$	10	$	22,950


	December 31, 2022
	Amortized Cost		Gross unrealized				Estimated Fair Value
(In thousands)			Gains		Losses
Available-for-sale securities, current portion
U.S. government securities	$	15,087	$	1	$	37	$	15,051
Corporate debt securities	26,057		6		16		26,047
Other debt securities	2,169		-		7		2,162
Total short-term	43,313		7		60		43,260

Available-for-sale securities, long-term
Other debt securities	1,329		3		-		1,332
Total marketable securities	$	44,642	$	10	$	60	$	44,592


	September 30, 2023
(In thousands)	Amortized Cost		Estimated Fair Value
Due in one year or less	$	21,799	$	21,794
Due after one year through five years	1,158		1,156
Total	$	22,957	$	22,950

Equity investments

The Company periodically invests in non-marketable equity securities of private companies without a readily determinable fair value to promote business and strategic objectives. The securities are carried at cost minus impairment, if any, plus or minus changes resulting from observable process changes in orderly transactions for identical or similar transactions of the same issuer. These securities included Series A-1 and A-2 Preferred Stock in iVexSol, Inc. carried at $4.1 million for the periods ending September 30, 2023 and December 31, 2022, and Series E Preferred Stock in PanTHERA CryoSolutions, Inc. carried at $995,000 as of September 30, 2023 and December 31, 2022.