Cash, Cash Equivalents, Restricted Cash and Marketable Securities
|3 Months Ended|
Mar. 31, 2022
|Cash and Cash Equivalents [Abstract]|
|Cash, Cash Equivalents, Restricted Cash and Marketable Securities||
Note 4 – Cash, Cash Equivalents, Restricted Cash and Marketable Securities
The Company considers all highly liquid financial instruments with original maturities of three months or less when purchased to be cash and cash equivalents and all investments with maturities of greater than three months from date of purchase are classified as marketable securities. Cash and cash equivalents consisted of cash in bank checking and savings accounts, money market funds and short-term U.S. treasury bonds that mature within three months of settlement date.
Cash, Cash Equivalents and Restricted Cash
The Company presents restricted cash with cash and cash equivalents in the Condensed Consolidated Statements of Cash Flows. Restricted cash at both March 31, 2022 and December 31, 2021 of approximately $250 thousand represents funds the Company is required to set aside as collateral primarily for the Company’s lab operating lease and other purposes.
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the Condensed Consolidated Balance Sheets to the total of the amounts in the Condensed Consolidated Statements of Cash Flows as of March 31, 2022, December 31, 2021, March 31, 2021 and December 31, 2020:
Schedule of Cash, Cash Equivalents and Restricted Cash
The Company has classified its investments in marketable securities as available-for-sale and as a current asset. The Company’s investments in marketable securities are carried at fair value, with unrealized gains and losses included as a separate component of stockholders’ equity. Unrealized losses and gains are classified as other comprehensive (loss)/income and costs are determined on a specific identification basis. Realized gains and losses from our marketable securities are recorded in other income, net. For the three months ended March 31, 2022 and 2021, the Company recorded unrealized losses of approximately $484 thousand and $92 thousand, respectively. As of March 31, 2022 and December 31, 2021, the Company had net accumulated unrealized losses of approximately $629 thousand and $145 thousand, respectively.
The following tables summarizes the Company’s marketable securities as of March 31, 2022:
Summary of Marketable Securities
Maturities of debt securities classified as available-for-sale were as follows at March 31, 2022:
Schedule of Maturities of Debt Securities Available-for-sale
The following tables summarizes the Company’s marketable securities for the year ended December 31, 2021 consisted of the following:
Maturities of debt securities classified as available-for-sale were as follows at December 31, 2021:
The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss).
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef