CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
|9 Months Ended|
Sep. 30, 2022
|CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS|
|CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS||
5. CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
The Company’s cash equivalents and short-term investments are invested in the following (in thousands):
During the year ended December 31, 2021, the Company made a $20.0 million investment in equity securities of a publicly-traded company. The Company records this investment at fair value, which was $1.2 million as of September 30, 2022. Prior to the investment, the Company entered into a subscription agreement to purchase the investment, resulting in a subscription agreement liability which was derecognized upon investment. During the three and nine months ended September 30, 2022, the Company recorded an unrealized loss due to the change in fair value of the equity securities of $0.3 million and $6.2 million, respectively, in interest and other (expense) income, net in the consolidated statements of operations.
The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef