Investments

9 Months Ended

Sep. 30, 2024

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, 2024
	Amortized Cost		Gross unrealized				Estimated Fair Value
(In thousands)			Gains		Losses
Available-for-sale securities, current portion
U.S. government securities	$	2,676	$	3	$	-	$	2,679
Corporate debt securities	6,149		16		-		6,165
Other debt securities	1,363		4		-		1,367
Total short-term	10,188		23		-		10,211

Available-for-sale securities, long-term
Corporate debt securities	2,944		21		-		2,965
Other debt securities	1,910		9		-		1,919
Total marketable securities	$	15,042	$	53	$	-	$	15,095


	December 31, 2023
	Amortized Cost		Gross unrealized				Estimated Fair Value
(In thousands)			Gains		Losses
Available-for-sale securities, current portion
U.S. government securities	$	5,169	$	1	$	-	$	5,170
Corporate debt securities	9,673		5		(4)		9,674
Other debt securities	1,443		1		-		1,444
Total short-term	16,285		7		(4)		16,288

Available-for-sale securities, long-term
Other debt securities	545		3		-		548
Total marketable securities	$	16,830	$	10	$	(4)	$	16,836


	September 30, 2024
(In thousands)	Amortized Cost		Estimated Fair Value
Due in one year or less	$	10,188	$	10,211
Due after one year through five years	4,854		4,884
Total	$	15,042	$	15,095

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 Company has adopted the measurement alternative whereby equity 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 E Preferred Stock in PanTHERA CryoSolutions, Inc. carried at $1.0 million as of September 30, 2024 and December 31, 2023.

The Company also owns securities of Series A-1 and A-2 Preferred Stock in iVexSol, Inc. carried at $4.1 million for the period ending December 31, 2023. During the six months ended June 30, 2024, the Company received communications that triggered a going concern for the investment. As of June 30, 2024, the Company determined that the fair value of its equity interest was less than its carrying amount, and no longer recoverable, triggering an impairment charge of $4.1 million. The carrying value was zero as of September 30, 2024.