Cash, Cash Equivalents and Marketable Securities

9 Months Ended

Sep. 30, 2019

Cash And Cash Equivalents [Abstract]

Cash, Cash Equivalents and Marketable Securities

5. CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES

Cash, cash equivalents, and marketable securities were comprised of:

	September 30, 2019
	Carrying Amount		Unrecognized Gain		Unrecognized Loss			Estimated Fair Value		Cash and Cash Equivalents		Current Marketable Securities
Cash	$	6,472,575	$	—	$	—		$	6,472,575	$	6,472,575	$	—
Money market funds		16,136,718		—		—			16,136,718		16,136,718		—
Reverse repurchase agreements		26,000,000		—		—			26,000,000		26,000,000		—
U.S. government agency securities		27,556,218		5,766					27,561,984		2,994,910		24,567,074
Available for Sale (1)		53,556,218		5,766		—			53,561,984		28,994,910		24,567,074
Total cash, cash equivalents, and    current marketable securities										$	51,604,203	$	24,567,074
	December 31, 2018
	Carrying Amount		Unrecognized Gain		Unrecognized Loss			Estimated Fair Value		Cash and Cash Equivalents		Current Marketable Securities
Cash	$	2,127,175	$	—	$	—		$	2,127,175	$	2,127,175	$	—
Money market funds		1,230,297		—		—			1,230,297		1,230,297		—
Reverse repurchase agreements		44,000,000		—		—			44,000,000		44,000,000		—
U.S. government agency securities		46,251,444		—		(9,224	)		46,242,220		—		46,242,220
Available for Sale (1)		90,251,444		—		(9,224	)		90,242,220		44,000,000		46,242,220
Total Cash, cash equivalents and    current marketable securities										$	47,357,472	$	46,242,220

(1) Available for sale securities are reported at fair value with unrealized gains and losses reported net of taxes, if material, in other comprehensive income.

The contractual maturities of all available for sale securities were less than one year at September 30, 2019.