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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value, Nonrecurring [Member]

Schedule of Financial Instruments and the Related Fair Value Hierarchy of the Valuation Techniques Utilized

The following table presents the fair value of financial instruments recorded originally at amortized cost or fair value and not remeasured on a recurring basis:

		March 31, 2020
Balance Sheet Classification	Type of Instrument	Level 1				Level 2				Level 3				Total
Financial Assets:
Cash and cash equivalents:	Money market funds	$	256,106			$	—			$	—			$	256,106
	Bank certificates of deposit		40,811				—				—				40,811
Total Financial Assets		$	296,917			$	—			$	—			$	296,917
Financial Liabilities:
Convertible senior notes	Convertible senior notes*	$	—			$	—			$	155,008			$	155,008
Total Financial Liabilities		$	—			$	—			$	155,008			$	155,008
		December 31, 2019
Balance Sheet Classification	Type of Instrument	Level 1				Level 2				Level 3				Total
Financial Assets:
Cash and cash equivalents	Money market funds	$	281,314			$	—			$	—			$	281,314
Total Financial Assets		$	281,314			$	—			$	—			$	281,314
Financial Liabilities:
Convertible senior notes	Convertible senior notes*	$	—			$	—			$	149,496			$	149,496
Total Financial Liabilities		$	—			$	—			$	149,496			$	149,496
* The convertible notes were measured and recognized at fair value on the consolidated balance sheet at inception.

Fair Value, Recurring [Member]

Schedule of Financial Instruments and the Related Fair Value Hierarchy of the Valuation Techniques Utilized

The following table presents the fair value of financial instruments recorded at fair value at inception and remeasured on a recurring basis:

		March 31, 2020
Balance Sheet Classification	Type of Instrument	Level 1				Level 2				Level 3				Total
Financial Assets:
Cash and cash equivalents:	US government obligations	$	117,184			$	—			$	—			$	117,184
Marketable Securities:	US government obligations		228,813				—				—				228,813
Total Financial Assets		$	345,997			$	—			$	—			$	345,997
Financial Liabilities:
Development derivative   liability	Development derivative   liability	$	—			$	—			$	223,245			$	223,245
Total Financial Liabilities		$	—			$	—			$	223,245			$	223,245
		December 31, 2019
Balance Sheet Classification	Type of Instrument	Level 1				Level 2				Level 3				Total
Financial Liabilities:
Development derivative   liability	Development derivative   liability	$	—			$	—			$	134,839			$	134,839
Total Financial Liabilities		$	—			$	—			$	134,839			$	134,839

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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