Marketable Securities |
Note 3. Marketable Securities
The Company’s marketable securities consisted of the following:
|
December 31, 2019 |
|
|
Amortized
Cost Basis |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Aggregate
Fair Value |
|
|
(in thousands) |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market accounts |
$ |
4,700 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,700 |
|
Corporate debt securities |
|
17,962 |
|
|
|
43 |
|
|
|
(2 |
) |
|
|
18,003 |
|
Less: Cash equivalents |
|
(6,399 |
) |
|
|
— |
|
|
|
— |
|
|
|
(6,399 |
) |
Total short-term marketable securities |
|
16,263 |
|
|
|
43 |
|
|
|
(2 |
) |
|
|
16,304 |
|
Corporate debt securities |
|
41,861 |
|
|
|
116 |
|
|
|
(30 |
) |
|
|
41,947 |
|
Total long-term marketable securities |
|
41,861 |
|
|
|
116 |
|
|
|
(30 |
) |
|
|
41,947 |
|
Total marketable securities |
$ |
58,124 |
|
|
$ |
159 |
|
|
$ |
(32 |
) |
|
$ |
58,251 |
|
|
December 31, 2018 |
|
|
Amortized
Cost Basis |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Aggregate
Fair Value |
|
|
(in thousands) |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market accounts |
$ |
2,692 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,692 |
|
United States Treasury |
|
990 |
|
|
|
— |
|
|
|
— |
|
|
|
990 |
|
U.S. government agency securities |
|
790 |
|
|
|
— |
|
|
|
— |
|
|
|
790 |
|
Corporate debt securities |
|
22,613 |
|
|
|
1 |
|
|
|
(96 |
) |
|
|
22,518 |
|
Less: Cash equivalents |
|
(2,692 |
) |
|
|
— |
|
|
|
— |
|
|
|
(2,692 |
) |
Total short-term marketable securities |
|
24,393 |
|
|
|
1 |
|
|
|
(96 |
) |
|
|
24,298 |
|
Corporate debt securities |
|
6,383 |
|
|
|
11 |
|
|
|
(8 |
) |
|
|
6,386 |
|
Total long-term marketable securities |
|
6,383 |
|
|
|
11 |
|
|
|
(8 |
) |
|
|
6,386 |
|
Total marketable securities |
$ |
30,776 |
|
|
$ |
12 |
|
|
$ |
(104 |
) |
|
$ |
30,684 |
|
Management determined that the gross unrealized losses of $32,000 on the Company’s marketable securities as of December 31, 2019 were temporary in nature. Gross unrealized losses on the Company’s marketable securities were $104,000 as of December 31, 2018. The Company currently does not intend to sell these securities prior to maturity and does not consider these investments to be other-than-temporarily impaired as of December 31, 2019.
|