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MARKETABLE SECURITIES | 12 Months Ended
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Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
MARKETABLE SECURITIES | MARKETABLE SECURITIES Marketable securities as of December 31, 2023 consisted of U.S Government and agency bonds as well as U.S Treasury bills. The Company did not hold any marketable securities as of December 31, 2022. The following tables sets forth the Company’s marketable securities:
| December 31,
(in thousands) | 2023
U.S. Government and agency bonds | $ | 31,886 |
U.S. Treasury bills | 30,747 |
Total | $ | 62,633 |
As of December 31, 2023, the fair value, amortized cost, gross unrealized gains, and gross unrealized losses were as follows:
| December 31, 2023
(in thousands) | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Fair Value
U.S Government and agency bonds | 31,866 |  |  | 30 |  |  | (10) |  |  | 31,886 |
U.S Treasury bills | 30,742 |  |  | 5 |  |  | — |  |  | 30,747 |
Total | $ | 62,608 |  |  | $ | 35 |  |  | $ | (10) |  |  | $ | 62,633 |
As of December 31, 2023, $62.6 million of the marketable securities were in an unrealized gain position. The Company determined that unrealized gains and losses on marketable securities were primarily due to interest rate changes. No allowance for credit losses related to any of these securities was recorded for the year ended December 31, 2023. All maturities are less than 12 months.

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