Annual report pursuant to Section 13 and 15(d)

Fair Value of Financial Instruments (Tables)

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Estimated Fair Value of Financial Instrument

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

	December 31, 2022
			Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
Short-term investments	$	10,866	$	—	$	(30	)	$	10,836
Total	$	10,866	$	—	$	(30	)	$	10,836

	December 31, 2021
			Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
Short-term investments	$	23,040	$	—	$	(29	)	$	23,011
Total	$	23,040	$	—	$	(29	)	$	23,011

Schedule of Fair Value Hierarchy Financial Assets

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

	Fair Value		Level 1		Level 2		Level 3
	December 31, 2022
	Fair Value		Level 1		Level 2		Level 3
Money market funds	$	5,505	$	5,505	$	—	$	—
Corporate notes and commercial paper		10,836		10,836		—		—
Total financial assets	$	16,341	$	16,341	$	—	$	—

		1		2		3		4
	December 31, 2021
	Fair Value		Level 1		Level 2		Level 3
Money market funds	$	5,484	$	5,484	$	—	$	—
Corporate notes and commercial paper		23,011		23,011		—		—
Total financial assets	$	28,495	$	28,495	$	—	$	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details