Quarterly report pursuant to Section 13 or 15(d)

SHORT-TERM INVESTMENTS

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SHORT-TERM INVESTMENTS
 6 Months Ended
Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
SHORT-TERM INVESTMENTS

NOTE 2 – SHORT-TERM INVESTMENTS

 

The following table provides a summary of the short-term investments (in thousands):

 

    June 30, 2022  
    Amortized Cost     Gross Unrealized Gain     Gross Unrealized Loss     Fair Value  
                         
Available-for-sale, short-term investments                                
U.S. treasury securities   $ 13,970       —       (7 )   $ 13,963  
Total available-for-sale, short-term investments   $ 13,970       —       (7 )   $ 13,963  

 

    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 available-for-sale, short-term investments   $ 12,077       9       —     $ 12,086  

 

As of June 30, 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 June 30, 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 or six months ended June 30, 2022.

 

There were no significant realized gains or losses recognized on the sale or maturity of available-for-sale investments for the three or six months ended June 30, 2022 or 2021.