v3.25.1
Fair value measurement
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair value measurement

Note 5 - Fair value measurement

 

Management’s assessment of the significance of a particular input to the fair value measurement requires judgement and may affect the valuation of financial assets and liabilities and their placement within the fair value hierarchy, as discussed in Note 3, “Summary of significant accounting policies”. At March 31, 2025 and December 31, 2024, the fair value measurement of the Company’s financial assets measured on a recurring basis were as follows:

                    
   Fair Values as of March 31, 2025 
   Level 1   Level 2   Level 3   Total 
Cash equivalents                    
Money market funds  $8,523,796   $-   $   -   $8,523,796 
Marketable securities                    
Asset backed securities   -    4,321,499    -    4,321,499 
Commercial paper   -    1,172,838    -    1,172,838 
Corporate bonds   -    17,405,461    -    17,405,461 
US Treasury securities   -    18,387,428    -    18,387,428 
Total  $8,523,796   $41,287,226   $-   $49,811,022 

 

   Fair Values as of December 31, 2024 
   Level 1   Level 2   Level 3   Total 
Cash equivalents                    
Money market funds  $3,706,990   $-   $   -   $3,706,990 
Marketable securities                    
Asset backed securities   -    4,308,274    -    4,308,274 
Commercial paper   -    1,156,709    -    1,156,709 
Corporate bonds   -    26,338,474    -    26,338,474 
US Treasury securities   -    27,246,904    -    27,246,904 
Total  $3,706,990   $59,050,361   $-   $62,757,351 

 

In the Company’s unaudited condensed consolidated balance sheets, the carrying values of non-trade receivables, other assets, accounts payable and accrued expenses approximated their fair values due to the nature and relatively short maturities. The fair value of debt approximates its carrying value as it is variable rate debt or has relatively short maturities.