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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	)

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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.

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