|3 Months Ended
Mar. 31, 2023
|Investments, Debt and Equity Securities [Abstract]
4. Short-term Investments
The Company classifies its short-term investments as available-for-sale. Short-term investments comprise highly liquid investments with minimum “A-” rated securities and as at year end consist of corporate bonds, commercial paper and U.S. Treasury bonds with maturities of more than three months at the date of purchase. Short-term investments as of March 31, 2023 have a weighted average maturity of 0.2 years. The investments are reported at fair value with unrealized gains or losses recorded in the consolidated statements of operations and comprehensive loss. Any differences between the amortized cost and fair value of investments are represented by unrealized gains or losses. The fair value of U.S. Treasury bonds, corporate bonds and commercial paper are represented by Level 2 fair value measurements - quoted price for a similar asset, or other observable inputs such as interest rates or yield curves.
The following table represents the Company’s available for sale short-term investments by major security type as of March 31, 2023 and December 31, 2022: