RESTRICTED CASH AND MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2022

Cash and Cash Equivalents [Abstract]

RESTRICTED CASH AND MARKETABLE SECURITIES

The Company's short-term restricted cash balance as of December 31, 2022 was $21.0 million. This represents the settlement amount of the Securities Litigation (as defined below in Note 11. “Commitment and Contingencies”), including the insurance carriers' coverage, which was funded into an escrow account in the fourth quarter of 2022. On January 31, 2023, the court issued an order granting final approval of the settlement of the Securities Litigation. Accordingly, this matter is now resolved.

The following table sets forth the composition of the Company’s marketable securities:


	December 31, 2022
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
US government securities	$	49,939	$	—	$	(508)	$	49,431
US treasury securities	4,973		—		(38)		4,935
Total Marketable Securities	$	54,912	$	—	$	(546)	$	54,366

The Company had no marketable securities as of December 31, 2021