Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurement

v3.23.1
Fair Value Measurement
3 Months Ended
Mar. 31, 2023
Fair Value Measurement  
Fair Value Measurement

7.     Fair Value Measurement

As of March 31, 2023, the Company did not have any financial instruments measured at fair value.

The following table presents the Company’s financial instruments that are measured at fair value on a recurring basis:

As of December 31, 2022

Quoted Market

 

Prices in Active

Significant

(in thousands)

Markets for

Significant Other

Unobservable

 

Identical Assets

 

Observable Inputs

Inputs

Tota1 Fair Value

(Level 1)

(Level 2)

 

(Level 3)

Measurements

Assets:

    

 

  

    

 

  

    

 

  

    

 

  

Cash equivalents

 

$

11,710

$

$

 

$

11,710

 

Cash equivalents consisting of money market funds of $11.7 million as of December 31, 2022, were classified as Level 1 of the fair value hierarchy and valued using quoted market prices in active markets.