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SHORT-TERM INVESTMENTS
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
SHORT-TERM INVESTMENTS

NOTE 2 – SHORT-TERM INVESTMENTS

 

Short-term investments consisted of the following marketable securities as of:

 

(in thousands)  March 31, 2022 
   Amortized Cost   Gross Unrealized Gain   Gross Unrealized Loss   Fair Value 
Available-for-sale, short-term investments                                       
U.S. treasury securities  $10,986   $3   $-   $10,989 
Total  $10,986   $3   $-   $10,989 

 

   December 31, 2021 
   Amortized Cost   Gross Unrealized Gain   Gross Unrealized Loss   Fair Value 
Available-for-sale, short-term investments                                        
U.S. treasury securities  $12,077   $9   $-   $12,086 
Total  $12,077   $9   $-   $12,086 

 

As of March 31, 2022, the available-for-sale securities classified as short-term investments mature in one year or less. Unrealized losses on available-for-sale securities as of March 31, 2022 were not significant and were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. None of the short-term investments have been in a continuous unrealized loss position for more than 12 months. Accordingly, no other-than-temporary impairment was recorded for the three months ended March 31, 2022.

 

There were no significant realized gains or losses recognized on the sale or maturity of available-for-sale investments for the three months ended March 31, 2022 or 2021.