SHORT-TERM INVESTMENTS

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

NOTE 4 – SHORT-TERM INVESTMENTS

The following table provides a summary of the short-term investments (in thousands):

	March 31, 2026
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value

Available-for-sale, short-term investments:
U.S. treasury securities	$	20,043		—		(5	)	$	20,038
U.S. federal agency securities		17,875		—		(9	)		17,866
Certificates of deposit		69,000		—		(7	)		68,993
Total available-for-sale, short-term investments	$	106,918		—		(21	)	$	106,897

	December 31, 2025
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value

Available-for-sale, short-term investments:
U.S. treasury securities	$	25,057		31		—	$	25,088
U.S. federal agency securities		17,772		2		—		17,774
Certificates of deposit		70,000		105		—		70,105
Total available-for-sale, short-term investments	$	112,829		138		—	$	112,967

As of March 31, 2026, the available-for-sale securities classified as short-term investments mature in one year or less. The Company carries its available-for-sale securities at fair value in the condensed consolidated balance sheets. Unrealized losses on available-for-sale securities as of March 31, 2026, were not significant and were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. None of the short-term investments have been in a continuous unrealized loss position for more than 12 months. Accordingly, no other-than-temporary impairment was recorded for the three months ended March 31, 2026.

There were no significant realized gains or losses recognized on the sale or maturity of available-for-sale investments during the three months ended March 31, 2026 or 2025.

ABEONA THERAPEUTICS INC. 10-Q