| Schedule of financial assets measured at fair value on a recurring basis |
The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the fair value hierarchy classification of such fair values as of September 30, 2023 and June 30, 2023 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Measurement of Assets as of September 30, 2023 |
|
|
Total |
|
Level 1 |
|
Level 2 |
|
Level 3 |
Cash and cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
5,323 |
|
$ |
5,323 |
|
$ |
— |
|
$ |
— |
Marketable debt securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Corporate commercial paper |
|
|
40,899 |
|
|
— |
|
|
40,899 |
|
|
— |
U.S. Government agencies |
|
|
24,640 |
|
|
— |
|
|
24,640 |
|
|
— |
U.S. Government treasuries |
|
|
5,465 |
|
|
5,465 |
|
|
— |
|
|
— |
Corporate notes and bonds |
|
|
23,579 |
|
|
— |
|
|
23,579 |
|
|
— |
Asset-backed securities |
|
|
4,234 |
|
|
— |
|
|
4,234 |
|
|
— |
Total |
|
$ |
104,140 |
|
$ |
10,788 |
|
$ |
93,352 |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Measurement of Assets as of June 30, 2023 |
|
|
Total |
|
Level 1 |
|
Level 2 |
|
Level 3 |
Cash and cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
5,464 |
|
$ |
5,464 |
|
$ |
— |
|
$ |
— |
Corporate commercial paper |
|
|
4,481 |
|
|
4,481 |
|
|
— |
|
|
— |
Marketable debt securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Corporate commercial paper |
|
|
41,597 |
|
|
— |
|
|
41,597 |
|
|
— |
U.S. Government agencies |
|
|
26,394 |
|
|
— |
|
|
26,394 |
|
|
— |
U.S. Government treasuries |
|
|
10,404 |
|
|
10,404 |
|
|
— |
|
|
— |
Corporate notes and bonds |
|
|
19,240 |
|
|
— |
|
|
19,240 |
|
|
— |
Asset-backed securities |
|
|
4,694 |
|
|
— |
|
|
4,694 |
|
|
— |
Total |
|
$ |
112,274 |
|
$ |
20,349 |
|
$ |
91,925 |
|
$ |
— |
|
| Summary of changes in the fair value of the company's derivative liabilities, fair value, level 3 inputs |
The following table sets forth changes in the fair value of the Company’s embedded derivative liability for the three months ended September 30, 2023 and 2022 (in thousands):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
2022 |
|
|
|
|
|
|
|
Fair value, beginning of period |
|
$ |
412 |
|
$ |
407 |
Loss from change in fair value |
|
|
14 |
|
|
13 |
Fair value, end of period |
|
$ |
426 |
|
$ |
420 |
|