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SHORT-TERM INVESTMENTS
 6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
SHORT-TERM INVESTMENTS

NOTE 2 – SHORT-TERM INVESTMENTS

 

The following table provides a summary of the short-term investments (in thousands):

 

   June 30, 2023 
   Amortized Cost   Gross
Unrealized Gain		   Gross
Unrealized Loss		   Fair Value 
                 
Available-for-sale, short-term investments:                    
U.S. treasury and federal agency securities  $30,613    —    (66)  $30,547 
Total available-for-sale, short-term investments  $30,613    —    (66)  $30,547 

 

   December 31, 2022 
   Amortized Cost   Gross
Unrealized Gain		   Gross
Unrealized Loss		   Fair Value 
                 
Available-for-sale, short-term investments:                    
U.S. treasury and federal agency securities  $38,032    —    (100)  $37,932 
Total available-for-sale, short-term investments  $38,032    —    (100)  $37,932 

 

As of June 30, 2023, 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 June 30, 2023, 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 and six months ended June 30, 2023.

 

There were no significant realized gains or losses recognized on the sale or maturity of available-for-sale investments for the three and six months ended June 30, 2023 or 2022.