Quarterly report pursuant to Section 13 or 15(d)

SHORT-TERM INVESTMENTS

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SHORT-TERM INVESTMENTS
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
SHORT-TERM INVESTMENTS

NOTE 2 – SHORT-TERM INVESTMENTS

 

Short-term investments consisted of the following marketable securities as of:

 

(in thousands)   March 31, 2022  
    Amortized Cost     Gross Unrealized Gain     Gross Unrealized Loss     Fair Value  
Available-for-sale, short-term investments                                                   
U.S. treasury securities   $ 10,986     $ 3     $ -     $ 10,989  
Total   $ 10,986     $ 3     $ -     $ 10,989  

 

    December 31, 2021  
    Amortized Cost     Gross Unrealized Gain     Gross Unrealized Loss     Fair Value  
Available-for-sale, short-term investments                                                    
U.S. treasury securities   $ 12,077     $ 9     $ -     $ 12,086  
Total   $ 12,077     $ 9     $ -     $ 12,086  

 

As of March 31, 2022, the available-for-sale securities classified as short-term investments mature in one year or less. Unrealized losses on available-for-sale securities as of March 31, 2022 were not significant and were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. None of the short-term investments have been in a continuous unrealized loss position for more than 12 months. Accordingly, no other-than-temporary impairment was recorded for the three months ended March 31, 2022.

 

There were no significant realized gains or losses recognized on the sale or maturity of available-for-sale investments for the three months ended March 31, 2022 or 2021.