Annual report [Section 13 and 15(d), not S-K Item 405]

Marketable Securities

v3.26.1
Marketable Securities
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities

5. Marketable Securities

Marketable securities consisted of the following:

 

December 31, 2025

 

Amortized Cost

 

 

Unrealized Gain

 

 

Unrealized Loss

 

 

Fair Value

 

Marketable securities, available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury obligations

 

$

39,522,018

 

 

$

21,802

 

 

$

—

 

 

$

39,543,820

 

Total

 

$

39,522,018

 

 

$

21,802

 

 

$

—

 

 

$

39,543,820

 

 

 

December 31, 2024

 

Amortized Cost

 

 

Unrealized Gain

 

 

Unrealized Loss

 

 

Fair Value

 

Marketable securities, available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury obligations

 

$

41,090,197

 

 

$

—

 

 

$

(37,248

)

 

$

41,052,949

 

Total

 

$

41,090,197

 

 

$

—

 

 

$

(37,248

)

 

$

41,052,949

 

As of December 31, 2025, the Company held seven U.S. Treasury debt securities that were in an unrealized gain position totaling $21,802 and held no securities that were in an unrealized loss position. As of December 31, 2024, the Company held seven U.S. Treasury debt securities that were in an unrealized loss position totaling $37,248. All U.S. treasury obligations were due to mature in less than one year for the years ended December 31, 2025 and 2024, respectively.

The Company received proceeds of $41.6 million from maturities of marketable securities for the year ended December 31, 2025. The Company received proceeds of $23.5 million from maturities of marketable securities for the year ended December 31, 2024.