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Marketable Securities
 6 Months Ended
Jun. 30, 2024
Cash and Cash Equivalents [Abstract]  
Marketable Securities

4. Marketable Securities

The following table summarizes the fair value of marketable securities held by the Company and their location in the Company’s condensed consolidated balance sheet (in thousands):

 

 

 

June 30, 2024

 

 

December 31, 2023

 

Marketable debt securities

 

 

 

 

 

 

Included within cash and cash equivalents (1)

 

$

5,031

 

 

$

8,856

 

Included within marketable securities

 

$

8,857

 

 

$

—

 

Marketable equity securities

 

 

 

 

 

 

Included within marketable securities

 

$

17

 

 

$

50

 

 

(1)
Cash equivalents have an original maturity of three months or less when purchased.

Marketable Debt Securities

The following table summarizes the available-for-sale debt securities classified within cash and cash equivalents and within marketable securities in the Company’s condensed consolidated balance sheet as of June 30, 2024 and December 31, 2023 (in thousands):

 

 

 

June 30, 2024

 

Financial Assets:

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

U.S. Treasury securities

 

$

13,894

 

 

$

—

 

 

$

(6

)

 

$

13,888

 

Total

 

$

13,894

 

 

$

—

 

 

$

(6

)

 

$

13,888

 

 

 

 

December 31, 2023

 

Financial Assets:

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

U.S. Treasury securities

 

$

8,855

 

 

$

1

 

 

$

—

 

 

$

8,856

 

Total

 

$

8,855

 

 

$

1

 

 

$

—

 

 

$

8,856

 

 

The Company has not recognized an allowance for credit losses on any securities in an unrealized loss position as of June 30, 2024 or December 31, 2023. The Company believes that the individual unrealized losses represent temporary declines resulting from changes in interest rates, and we intend to hold these marketable debt securities to their maturity.

As of June 30, 2024, the amortized cost and estimated fair value of the Company’s available-for-sale debt securities by contractual maturity are shown below (in thousands):

 

Available-for-sale debt securities maturing:

 

Amortized Cost

 

 

Estimated Fair Value

 

In one year or less

 

$

13,894

 

 

$

13,888

 

Total available-for-sale debt securities

 

$

13,894

 

 

$

13,888

 

 

Marketable Equity Securities

Marketable equity securities are reported at fair value with unrealized gains and losses related to mark-to-market adjustments included in income. Lineage’s marketable equity securities consist of shares of common stock of OncoCyte Corporation (“OCX”) and of Hadasit Bio-Holdings Ltd. (“HBL”). All share prices are determined based on the closing price of OCX and HBL common stock on the last trading day of the applicable quarter.

The following table represents the realized and unrealized (loss) gain on marketable equity securities for the periods presented (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

(Loss) gain on marketable equity securities, net

 

$

(10

)

 

$

(150

)

 

$

(15

)

 

$

(110

)

Less: Loss recognized in earnings on marketable equity
   securities sold

 

 

4

 

 

 

—

 

 

 

4

 

 

 

—

 

Unrealized (loss) gain recognized on marketable equity
   securities held at end of period, net

 

$

(6

)

 

$

(150

)

 

$

(11

)

 

$

(110

)