Rigel Pharmaceuticals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cash, Cash Equivalents and Short-Term Investments

Cash, Cash Equivalents and Short-Term Investments

3 Months Ended

Mar. 31, 2019

Cash, Cash Equivalents and Short-Term Investments

Cash, Cash Equivalents and Short-Term Investments

10.Cash, Cash Equivalents and Short-Term Investments

Cash, cash equivalents and short-term investments consisted of the following (in thousands):


	March 31,		December 31,
	2019		2018
Cash	$	1,296	$	2,626
Money market funds		10,334		9,106
U.S. treasury bills		2,293		—
Government-sponsored enterprise securities		2,486		7,872
Corporate bonds and commercial paper		111,514		108,933
	$	127,923	$	128,537
Reported as:
Cash and cash equivalents	$	74,696	$	76,322
Short-term investments		53,227		52,215
	$	127,923	$	128,537

Cash equivalents and short-term investments include the following securities with gross unrealized gains and losses (in thousands):


			Gross		Gross
	Amortized		Unrealized		Unrealized
March 31, 2019	Cost		Gains		Losses		Fair Value
U.S. treasury bills	$	2,293	$	—	$	—	$	2,293
Government-sponsored enterprise securities		2,484		2		—		2,486
Corporate bonds and commercial paper		111,506		20		(12)		111,514
Total	$	116,283	$	22	$	(12)	$	116,293


			Gross		Gross
	Amortized		Unrealized		Unrealized
December 31, 2018	Cost		Gains		Losses		Fair Value
Government-sponsored enterprise securities	$	7,873	$	—	$	(1)		7,872
Corporate bonds and commercial paper		108,957		2		(26)		108,933
Total	$	116,830	$	2	$	(27)	$	116,805

As of March 31, 2019, our cash equivalents and short-term investments, which have contractual maturities within one year, had a weighted-average time to maturity of approximately 61 days. We view our short-term investments portfolio as available for use in current operations. We have the ability to hold all investments as of March 31, 2019 through their respective maturity dates. At March 31, 2019, we had no investments that had been in a continuous unrealized loss position for more than 12 months. As of March 31, 2019, a total of 32 individual securities had been in an unrealized loss position for 12 months or less, and the losses were determined to be temporary. The gross unrealized losses above were caused by interest rate increases. No significant facts or circumstances have arisen to indicate that there has been any significant deterioration in the creditworthiness of the issuers of the securities held by us. Based on our review of these securities, including the assessment of the duration and severity of the unrealized losses and our ability and intent to hold the investments until maturity, there were no other-than-temporary impairments for these securities at March 31, 2019.

The following table shows the fair value and gross unrealized losses of our investments in individual securities that are in an unrealized loss position, aggregated by investment category (in thousands):


March 31, 2019	Fair Value		Unrealized Losses
Corporate bonds and commercial paper	$	69,359	$	(12)