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Marketable Securities | 3 Months Ended
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Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities | 4. Marketable Securities The Company has classified its marketable securities as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses included in accumulated other comprehensive loss in stockholders’ equity until realized. Gains and losses on marketable security transactions are reported on the specific-identification method. Dividend and interest income are recognized when earned. The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of securities as of March 31, 2024 and December 31, 2023 were as follows:
|  | Amortized cost |  |  | Gross unrealized holding gains |  |  | Gross unrealized holding losses |  |  | Estimated fair value |
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | $ | 1,298 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,298 |
Mutual funds |  |  | 2,116 |  |  |  | 9 |  |  |  | (2 | ) |  |  | 2,123 |
Certificates of deposit |  |  | 413 |  |  |  | — |  |  |  | — |  |  |  | 413 |
Corporate debt securities |  | $ | 253 |  |  | $ | — |  |  | $ | — |  |  | $ | 253 |
Total available-for-sale securities |  | $ | 4,080 |  |  | $ | 9 |  |  | $ | (2 | ) |  | $ | 4,087 |
|  | Amortized cost |  |  | Gross unrealized holding gains |  |  | Gross unrealized holding losses |  |  | Estimated fair value |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | $ | 1,804 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 1,803 |
Mutual funds |  |  | 1,498 |  |  |  | 7 |  |  |  | — |  |  |  | 1,505 |
Certificates of deposit |  |  | 103 |  |  |  | — |  |  |  | — |  |  |  | 103 |
Corporate debt securities |  | $ | 1,007 |  |  | $ | — |  |  | $ | (22 | ) |  | $ | 985 |
Total available-for-sale securities |  | $ | 4,412 |  |  | $ | 7 |  |  | $ | (23 | ) |  | $ | 4,396 |
|  | Amortized cost |  |  | Estimated fair value |
Due within one year |  | $ | 2,801 |  |  | $ | 2,809 |
Due after one year through five years |  |  | 1,279 |  |  |  | 1,278 |
Due after five years |  |  | — |  |  |  | — |
Total available-for-sale securities |  | $ | 4,080 |  |  | $ | 4,087 |
Debt securities in an unrealized loss position as of March 31, 2024 were not deemed impaired at acquisition and subsequent declines in fair value are not deemed attributed to declines in credit quality. Management believes that it is more likely than not that the securities will receive a full recovery of par value, although there can be no assurance that such recovery will occur. The available-for-sale marketable securities with continuous gross unrealized loss position for less than 12 months and 12 months or greater and their related fair values were as follows:
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Estimated fair value |  |  | Gross unrealized holding losses |  |  | Estimated fair value |  |  | Gross unrealized holding losses |  |  | Estimated fair value |  |  | Gross unrealized holding losses |
As of March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | $ | 1,298 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,298 |  |  | $ | — |
Mutual Funds |  |  | 2,123 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | 2,123 |  |  |  | (2 | )
Certificates of Deposit |  |  | 413 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 413 |  |  |  | — |
Corporate debt securities |  |  | 253 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 253 |  |  |  | — |
Total |  | $ | 4,087 |  |  | $ | (2 | ) |  | $ | — |  |  | $ | — |  |  | $ | 4,087 |  |  | $ | (2 | )
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Estimated fair value |  |  | Gross unrealized holding losses |  |  | Estimated fair value |  |  | Gross unrealized holding losses |  |  | Estimated fair value |  |  | Gross unrealized holding losses |
As of December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | $ | 1,803 |  |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | 1,803 |  |  | $ | (1 | )
Mutual Funds |  |  | 1,505 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,505 |  |  |  | — |
Certificates of Deposit |  |  | 103 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 103 |  |  |  | — |
Corporate debt securities |  |  | 985 |  |  |  | (22 | ) |  |  | — |  |  |  | — |  |  |  | 985 |  |  |  | (22 | )
Total |  | $ | 4,396 |  |  | $ | (23 | ) |  | $ | — |  |  | $ | — |  |  | $ | 4,396 |  |  | $ | (23 | )

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