Annual report pursuant to Section 13 and 15(d)

Cash, Cash Equivalents and Short-Term Investments (Tables)

v3.19.3.a.u2
Cash, Cash Equivalents and Short-Term Investments (Tables)
12 Months Ended
Dec. 31, 2019
Cash And Cash Equivalents [Abstract]  
Schedule of Cash and Cash Equivalents and Short-Term Investments by Significant Investment Category

The following tables show the Company’s cash and cash equivalents and short-term investments by significant investment category as of December 31 (in thousands):

 

 

 

2019

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Estimated

Fair Value

 

 

Cash and

Cash

Equivalents

 

 

Short-Term

Investments

 

Cash

 

$

3,950

 

 

$

 

 

$

 

 

$

3,950

 

 

$

3,950

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1(1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

 

5,500

 

 

 

 

 

 

 

 

 

5,500

 

 

 

5,500

 

 

 

 

U.S. treasury securities

 

 

3,078

 

 

 

2

 

 

 

(1

)

 

 

3,079

 

 

 

 

 

 

3,079

 

Subtotal

 

 

8,578

 

 

 

2

 

 

 

(1

)

 

 

8,579

 

 

 

5,500

 

 

 

3,079

 

Level 2(2):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

8,920

 

 

 

 

 

 

 

 

 

8,920

 

 

 

747

 

 

 

8,173

 

Corporate debt obligations

 

 

5,922

 

 

 

5

 

 

 

(1

)

 

 

5,926

 

 

 

 

 

 

5,926

 

Repurchase agreements

 

 

3,000

 

 

 

 

 

 

 

 

 

3,000

 

 

 

3,000

 

 

 

 

Asset-backed securities

 

 

4,505

 

 

 

3

 

 

 

 

 

 

4,508

 

 

 

 

 

 

4,508

 

Subtotal

 

 

22,347

 

 

 

8

 

 

 

(1

)

 

 

22,354

 

 

 

3,747

 

 

 

18,607

 

Total

 

$

34,875

 

 

$

10

 

 

$

(2

)

 

$

34,883

 

 

$

13,197

 

 

$

21,686

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Estimated

Fair Value

 

 

Cash and

Cash

Equivalents

 

 

Short-Term

Investments

 

Cash

 

$

3,044

 

 

$

 

 

$

 

 

$

3,044

 

 

$

3,044

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1(1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

 

5,482

 

 

 

 

 

 

 

 

 

5,482

 

 

 

5,482

 

 

 

 

U.S. treasury securities

 

 

1,988

 

 

 

 

 

 

 

 

 

1,988

 

 

 

 

 

 

1,988

 

Subtotal

 

 

7,470

 

 

 

 

 

 

 

 

 

7,470

 

 

 

5,482

 

 

 

1,988

 

Level 2(2):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

 

10,639

 

 

 

 

 

 

 

 

 

10,639

 

 

 

2,095

 

 

 

8,544

 

Corporate debt obligations

 

 

5,964

 

 

 

 

 

 

(7

)

 

 

5,957

 

 

 

 

 

 

5,957

 

Repurchase agreements

 

 

3,000

 

 

 

 

 

 

 

 

 

3,000

 

 

 

3,000

 

 

 

 

Asset-backed securities

 

 

3,682

 

 

 

 

 

 

(3

)

 

 

3,680

 

 

 

 

 

 

3,680

 

Subtotal

 

 

23,285

 

 

 

 

 

 

(10

)

 

 

23,276

 

 

 

5,095

 

 

 

18,181

 

Total

 

$

33,799

 

 

$

 

 

$

(10

)

 

$

33,790

 

 

$

13,621

 

 

$

20,169

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.

(2)

Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Schedule of Short-Term Investments

As of December 31 the Company’s short-term investments in a continuous unrealized loss position for 12 months or less are as follows (in thousands):

 

Description of securities

 

Estimated fair value

 

 

Unrealized losses

 

2019

 

 

 

 

 

 

 

 

U.S. treasury securities

 

$

1,218

 

 

$

(1

)

Corporate debt obligations

 

 

1,428

 

 

 

(1

)

Asset-backed securities

 

 

753

 

 

 

 

Total

 

$

3,399

 

 

$

(2

)

 

 

 

 

 

 

 

 

 

2018

 

 

 

 

 

 

 

 

U.S. treasury securities

 

$

1,988

 

 

$

 

Corporate debt obligations

 

 

5,957

 

 

 

(7

)

Asset-backed securities

 

 

3,032

 

 

 

(3

)

Total

 

$

10,977

 

 

$

(10

)