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Cash and Cash Equivalents and Short-Term Investments | 6 Months Ended
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Jun. 30, 2020
Cash and Cash Equivalents [Abstract] |
Cash and Cash Equivalents and Short-Term Investments | Cash and Cash Equivalents and Short-Term Investments The following tables summarize the amortized cost, unrealized gain and loss and estimated fair value of cash equivalents and short-term investments:
| June 30, 2020
(in thousands) | Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Estimated Fair Value
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 55,178 |  |  | $ | — |  |  | $ | — |  |  | $ | 55,178 |
Total cash equivalents | $ | 55,178 |  |  | $ | — |  |  | $ | — |  |  | $ | 55,178 |
Short-term investments: |  |  |  |  |  |  |
Commercial paper | $ | 48,573 |  |  | $ | — |  |  | $ | — |  |  | $ | 48,573 |
Corporate bonds | 11,769 |  |  | 56 |  |  | — |  |  | 11,825 |
U.S. Treasury and agency obligations | 45,143 |  |  | 93 |  |  | — |  |  | 45,236 |
Total short-term investments | $ | 105,485 |  |  | $ | 149 |  |  | $ | — |  |  | $ | 105,634 |
| December 31, 2019
(in thousands) | Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Estimated Fair Value
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 13,588 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,588 |
Commercial paper | 8,987 |  |  | — |  |  | — |  |  | 8,987 |
Total cash equivalents | $ | 22,575 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,575 |
Short-term investments: |  |  |  |  |  |  |
Commercial paper | $ | 61,371 |  |  | $ | — |  |  | $ | — |  |  | $ | 61,371 |
Corporate bonds | 23,856 |  |  | 14 |  |  | (1 | ) |  | 23,869 |
U.S. Treasury and agency obligations | 52,627 |  |  | 38 |  |  | (1 | ) |  | 52,664 |
Total short-term investments | $ | 137,854 |  |  | $ | 52 |  |  | $ | (2 | ) |  | $ | 137,904 |
Gross unrealized losses were not material at June 30, 2020 and December 31, 2019, respectively. At June 30, 2020, we considered the extent to which any unrealized losses on our short-term investments were driven by credit risk and other factors, including market risk, and if it is more-likely-than-not that we would have to sell the security before the recovery of the amortized cost basis. Based on our assessment, we do not believe any unrealized losses represent credit losses at June 30, 2020. At June 30, 2020, all of our short-term investments had maturities within the next twelve months.

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- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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