Cash and Cash Equivalents and Short-Term Investments

6 Months Ended

Jun. 30, 2019

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents and Short-Term Investments

At June 30, 2019 and December 31, 2018, cash and cash equivalents excluded $0.3 million of restricted cash, which is related to an account established as collateral for a lease arrangement and was included in other assets on the consolidated balance sheets.

The following tables summarize the amortized cost, unrealized gain and loss and estimated fair value of cash equivalents and short-term investments:



	June 30, 2019
(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value
Cash equivalents:
Money market funds	$	37,659	$	—	$	—	$	37,659
Commercial paper	9,094		—		—		9,094
Total cash equivalents	$	46,753	$	—	$	—	$	46,753

Short-term investments:
Commercial paper	$	46,220	$	—	$	—	$	46,220
Corporate bonds	20,219		37		—		20,256
U.S. Treasury and agency obligations	44,782		43		—		44,825
Total short-term investments	$	111,221	$	80	$	—	$	111,301



	December 31, 2018
(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value
Cash equivalents:
Money market funds	$	38,022	$	—	$	—	$	38,022
Total cash equivalents	$	38,022	$	—	$	—	$	38,022

Short-term investments:
Commercial paper	$	79,634	$	—	$	—	$	79,634
Corporate bonds	16,119		—		—		16,119
U.S. Treasury and agency obligations	22,366		—		—		22,366
Total short-term investments	$	118,119	$	—	$	—	$	118,119

At June 30, 2019 and December 31, 2018, all of our short-term investments had maturities within the next twelve months, and none of our short-term investments were in an unrealized loss position.