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Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of Estimated Fair Values of Financial Instruments Outstanding

The estimated fair values of financial instruments outstanding were (in thousands):

 

 

 

September 30, 2021

 

 

 

 

 

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Cash and cash equivalents

 

$

9,820

 

 

$

—

 

 

$

—

 

 

$

9,820

 

Short-term investments

 

 

8,216

 

 

 

—

 

 

 

(3

)

 

 

8,213

 

Long-term investments

 

 

3,206

 

 

 

—

 

 

 

(3

)

 

 

3,203

 

 

 

$

21,242

 

 

$

—

 

 

$

(6

)

 

$

21,236

 

 

 

 

December 31, 2020

 

 

 

 

 

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Cash and cash equivalents

 

$

5,889

 

 

$

—

 

 

$

—

 

 

$

5,889

 

 
Schedule of Fair Value Hierarchy for Financial Assets (Cash Equivalents and Investments)

The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments) (in thousands):

 

 

 

September 30, 2021

 

 

 

Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market funds

 

$

7,948

 

 

$

7,948

 

 

$

—

 

 

$

—

 

Corporate notes and commercial paper (1)

 

$

11,916

 

 

$

—

 

 

$

11,916

 

 

$

—

 

 

 

$

19,864

 

 

$

7,948

 

 

$

11,916

 

 

$

—

 

 

 

 

 

December 31, 2020

 

 

 

Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market funds

 

$

3,893

 

 

$

3,893

 

 

$

—

 

 

$

—

 

 

(1)   Includes $0.5 million in cash and cash equivalents on the accompanying condensed consolidated balance sheet due to original maturities of less than three months. There were no transfers in or out of Level 1 and Level 2 securities during the nine months ended September 30, 2021 or 2020.