XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.23.3

INVESTMENT SECURITIES, AVAILABLE-FOR-SALE AND FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Investments, All Other Investments [Abstract] |
SCHEDULE OF FAIR VALUE HIERARCHY ASSETS AND LIABILITIES | The valuation inputs hierarchy classification for assets measured at fair value on a recurring basis are summarized below as of September 30, 2023 and December 31, 2022 (in thousands). These tables do not include cash held in our money market savings accounts. SCHEDULE OF FAIR VALUE HIERARCHY ASSETS AND LIABILITIES
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
As of September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | - |  |  | $ | 9,215 |  |  | $ | - |  |  | $ | 9,215 |
U.S. Treasury securities |  |  | - |  |  |  | 19,462 |  |  |  | - |  |  |  | 19,462 |
|  | $ | - |  |  | $ | 28,677 |  |  | $ | - |  |  | $ | 28,677 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | - |  |  | $ | 15,500 |  |  | $ | - |  |  | $ | 15,500 |
U.S. Treasury securities |  |  | - |  |  |  | 46,673 |  |  |  | - |  |  |  | 46,673 |
|  | $ | - |  |  | $ | 62,173 |  |  | $ | - |  |  | $ | 62,173 |
SCHEDULE OF UNREALIZED GAIN OR LOSS ON SHORT-TERM INVESTMENTS | Our short-term investments are summarized below as of September 30, 2023 and December 31, 2022 (in thousands). SCHEDULE OF UNREALIZED GAIN OR LOSS ON SHORT-TERM INVESTMENTS
|  |  |  |  |  |  |  |  |  |  | Investment |
|  | Cost/ |  |  | Gross |  |  | Gross |  |  | Securities, |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Available- |
|  | Cost |  |  | Gains |  |  | Losses |  |  | For-Sale |
As of September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 9,220 |  |  | $ | 1 |  |  | $ | (6 | ) |  | $ | 9,215 |
U.S. Treasury securities |  |  | 19,468 |  |  |  | - |  |  |  | (6 | ) |  |  | 19,462 |
|  | $ | 28,688 |  |  | $ | 1 |  |  | $ | (12 | ) |  | $ | 28,677 |
|  |  |  |  |  |  |  |  |  |  | Investment |
|  | Cost/ |  |  | Gross |  |  | Gross |  |  | Securities, |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Available- |
|  | Cost |  |  | Gains |  |  | Losses |  |  | For-Sale |
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 15,538 |  |  | $ | - |  |  | $ | (38 | ) |  | $ | 15,500 |
U.S. Treasury securities |  |  | 46,762 |  |  |  | 2 |  |  |  | (91 | ) |  |  | 46,673 |
|  | $ | 62,300 |  |  | $ | 2 |  |  | $ | (129 | ) |  | $ | 62,173 |
SCHEDULE OF MATURITY DATE OF AVAILABLE-FOR-SALE SECURITIES | The maturities of the investment securities available-for-sale as of September 30, 2023 and December 31, 2022 are shown below (in thousands): SCHEDULE OF MATURITY DATE OF AVAILABLE-FOR-SALE SECURITIES
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
As of September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Maturity date |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than one year |  | $ | 28,688 |  |  | $ | 1 |  |  | $ | (12 | ) |  | $ | 28,677 |
|  | $ | 28,688 |  |  |  |  |  |  |  |  |  |  | $ | 28,677 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Maturity date |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than one year |  | $ | 62,300 |  |  | $ | 2 |  |  | $ | (129 | ) |  | $ | 62,173 |
|  | $ | 62,300 |  |  |  |  |  |  |  |  |  |  | $ | 62,173 |
SCHEDULE OF UNREALIZED LOSS ON INVESTMENTS SECURITIES | The following table summarizes investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for more than 12 months as of September 30, 2023 and December 31, 2022 (in thousands): SCHEDULE OF UNREALIZED LOSS ON INVESTMENTS SECURITIES
|  | Less than Twelve Months |  |  | Twelve Months or Greater |  |  | Total |
|  |  |  |  | Gross |  |  |  |  |  | Gross |  |  |  |  |  | Gross |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
As of September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 2,988 |  |  | $ | (6 | ) |  | $ | - |  |  | $ | - |  |  | $ | 2,988 |  |  | $ | (6 | )
U.S. Treasury securities |  |  | 12,570 |  |  |  | (6 | ) |  |  | - |  |  |  | - |  |  |  | 12,570 |  |  |  | (6 | )
|  | $ | 15,558 |  |  | $ | (12 | ) |  | $ | - |  |  | $ | - |  |  | $ | 15,558 |  |  | $ | (12 | )
|  | Less than Twelve Months |  |  | Twelve Months or Greater |  |  | Total |
|  |  |  |  | Gross |  |  |  |  |  | Gross |  |  |  |  |  | Gross |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 12,295 |  |  | $ | (38 | ) |  | $ | - |  |  | $ | - |  |  | $ | 12,295 |  |  | $ | (38 | )
U.S. Treasury securities |  |  | 34,530 |  |  |  | (91 | ) |  |  | - |  |  |  | - |  |  |  | 34,530 |  |  |  | (91 | )
|  | $ | 46,825 |  |  | $ | (129 | ) |  | $ | - |  |  | $ | - |  |  | $ | 46,825 |  |  | $ | (129 | )

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAllOtherInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-6 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of unrealized gains and losses on investments. + References No definition available. + Details
Name: | us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration