XML 20 R10.htm IDEA: XBRL DOCUMENT v3.24.3
SHORT-TERM INVESTMENTS
 9 Months Ended
Sep. 30, 2024
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):

 

   September 30, 2024 
   Amortized
Cost		  

Gross

Unrealized
Gain

  

Gross

Unrealized
Loss

   Fair Value 
                 
Available-for-sale, short-term investments:                    
U.S. treasury securities  $43,561    11    —   $43,572 
U.S. federal agency securities   36,998    —    (135)   36,863 
Certificates of deposit   13,500    40    —    13,540 
Total available-for-sale, short-term investments  $94,059    51    (135)  $93,975 

 

   December 31, 2023 
   Amortized
Cost		  

Gross

Unrealized
Gain

  

Gross

Unrealized
Loss

   Fair Value 
                 
Available-for-sale, short-term investments:                    
U.S. treasury securities  $8,406    —    (13)  $8,393 
U.S. federal agency securities   29,413    —    (53)   29,360 
Total available-for-sale, short-term investments  $37,819    —    (66)  $37,753 

 

As of September 30, 2024, the available-for-sale securities classified as short-term investments mature in one year or less. The Company carries its available-for-sale securities at fair value in the unaudited condensed consolidated balance sheets. Unrealized losses on available-for-sale securities as of September 30, 2024, 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 nine months ended September 30, 2024.

 

There were no significant realized gains or losses recognized on the sale or maturity of available-for-sale investments for the three and nine months ended September 30, 2024 or 2023.