Marketable Securities

9 Months Ended

Sep. 30, 2019

Marketable Securities

Marketable Securities

Note 5 – Marketable Securities

Marketable securities classified as available-for-sale as of September 30, 2019 and December 31, 2018 were comprised of (in thousands):

	September 30, 2019								December 31, 2018
			Gross		Gross						Gross		Gross
	Amortized		Unrealized		Unrealized				Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value		Cost		Gains		Losses		Fair Value
Asset-backed securities	$	—	$	—	$	—	$	—	$	4,999	$	—	$	(2)	$	4,997
Corporate debt securities		—		—		—		—		16,986		—		(3)		16,983
Total	$	—	$	—	$	—	$	—	$	21,985	$	—	$	(5)	$	21,980

Marketable Securities – Unrealized Losses

The primary objective of the Company's investment policy is the preservation of capital; thus, the Company's investment policy limits investments to certain types of instruments with high-grade credit ratings, places restrictions on maturities and concentrations in certain industries and requires the Company to maintain a certain level of liquidity.