Quarterly report pursuant to Section 13 or 15(d)

Short-term Investments

v3.20.1
Short-term Investments
3 Months Ended
Mar. 31, 2020
Investments Debt And Equity Securities [Abstract]  
Short-term Investments

3.

Short-term Investments

The following table summarizes the held-to-maturity securities held at March 31, 2020 and December 31, 2019 (in thousands):

 

 

 

Amortized

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair Value

 

As of March 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government securities

 

$

6,000

 

 

$

18

 

 

$

(15

)

 

$

6,003

 

Commercial paper

 

 

8,267

 

 

 

 

 

 

 

 

 

8,267

 

Total short-term investments

 

$

14,267

 

 

$

18

 

 

$

(15

)

 

$

14,270

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortized

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair Value

 

As of December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government securities

 

$

1,996

 

 

$

15

 

 

$

(14

)

 

$

1,997

 

Commercial paper

 

 

998

 

 

 

 

 

 

 

 

 

998

 

Overnight repurchase agreement

 

 

3,500

 

 

 

 

 

 

 

 

 

3,500

 

Total short-term investments

 

$

6,494

 

 

$

15

 

 

$

(14

)

 

$

6,495

 

All held-to-maturity short-term investments at March 31, 2020 and December 31, 2019 will mature in less than one year.  The gross unrealized gains and losses for the Company’s commercial paper and overnight repurchase agreement are not significant.  The Company carries short-term investments at amortized cost. The fair value of the short-term investments is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets.