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Short-term Investments | 9 Months Ended
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Sep. 30, 2021
Investments Debt And Equity Securities [Abstract] |
Short-term Investments | 4. Short-term Investments The Company classifies its short-term investments as available for sale. Short-term investments comprise highly liquid investments with minimum “A-” rated securities and as at period-end consist of corporate entity commercial paper with maturities of more than three months at the date of purchase. Short-term investments as of September 30, 2021 have an average maturity of 0.75 years. The investments are reported at fair value with unrealized gains or losses recorded in the condensed consolidated statements of operations and comprehensive loss. Any differences between the cost and fair value of investments are represented by unrealized gains or losses. The fair value of short-term investments is represented by Level 1 fair value measurements – quoted prices in active markets for identical assets. The following table represents the Company’s available for sale short-term investments by major security type as of September 30, 2021:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Maturity by period |
|  | Cost |  |  | Unrealized |  |  | Unrealized |  |  | Fair Value |  |  | Less than 1 |  |  | 1 to 5 |
Available for sale |  | Total |  |  | gains |  |  | (losses) |  |  | Total |  |  | year |  |  | years |
Commercial paper |  | $ | 33,097 |  |  |  | 16 |  |  |  | (364 | ) |  |  | 32,749 |  |  |  | 31,712 |  |  |  | 1,037 |
U.S. Treasury Bills |  |  | 16,985 |  |  |  | 5 |  |  |  | (10 | ) |  |  | 16,980 |  |  |  | — |  |  |  | 16,980 |
Total |  | $ | 50,082 |  |  | $ | 21 |  |  | $ | (374 | ) |  | $ | 49,729 |  |  | $ | 31,712 |  |  | $ | 18,017 |
The Company did not hold any short-term investments as of December 31, 2020.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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