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Supplementary Balance Sheet Information

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplementary Balance Sheet Information

Supplementary Balance Sheet Information

Short-term investments available-for-sale securities consist of the following:

			As of December 31, 2021
(in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Market Value
Maturity less than 1 year:
Certificate of deposit			$	1,260					$	—					$	—					$	1,260
Corporate debt securities			58,822						2						(38)						58,786
Commercial paper			14,453						4						(3)						14,454
Non U.S. government			728						—						—						728
U.S. treasury securities			20,380						—						(24)						20,356
Total maturity less than 1 year			95,643						6						(65)						95,584
Maturity 1 to 2 years:
Corporate debt securities			29,676						1						(73)						29,604
U.S. treasury securities			3,701						—						(11)						3,690
Total maturity 1 to 2 years			33,377						1						(84)						33,294
Total short-term investments			$	129,020					$	7					$	(149)					$	128,878

For the year ending December 31, 2021 the realized loss on the sale of short-term investments was $0. The Company did not have short-term investments during the year ending December 31, 2020.

None of the Company’s short-term investments available for sale were in a material unrealized loss position at December 31, 2021. The Company reviewed its investment holdings as of December 31, 2021 and determined that its unrealized losses were not considered to be other-than-temporary based upon (i) the financial strength of the issuing institution and (ii) the fact that no securities have been in an unrealized loss position for twelve months or more. As such, the Company has not recognized any impairment in its financial statements related to its available-for-sale investment securities.

Property and Equipment

Fixed assets consist of furniture and office equipment, leasehold improvements and laboratory equipment. Depreciation expense for property and equipment for the years ended December 31, 2021 and 2020 was $0.5 million and $0.5 million, respectively. Property and equipment consisted of the following:

			As of December 31,
(in thousands)			2021						2020
Furniture and office equipment			$	955					$	798
Leasehold improvements			1,962						1,962
Laboratory equipment			906						868
			3,823						3,628
Less—accumulated depreciation			(3,441)						(3,004)
Property and equipment, net			$	382					$	624

Accrued Liabilities

Accrued liabilities consisted of the following:

			As of December 31,
(in thousands)			2021						2020
Accrued compensation			$	1,435					$	1,523
Preferred stock dividend			414						390
Clinical trials			1,639						1,557
Research agreements and services			726						67
Director fees			141						93
Professional fees and outside services			63						38
Patent, license and other fees			43						117
Other accrued liabilities			66						66
Total accrued liabilities			$	4,527					$	3,851

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- References

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- Definition

The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-URI http://asc.fasb.org/topic&trid=2122208

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