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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 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:

		September 30, 2020
Balance Sheet Classification	Type of Instrument	Level 1				Level 2				Level 3				Total
Financial Assets:
Cash and cash equivalents:	Money market funds	$	271,158			$	—			$	—			$	271,158
	Bank certificates of deposit		40,821				—				—				40,821
Total Financial Assets		$	311,979			$	—			$	—			$	311,979
Financial Liabilities:
Convertible senior notes	Convertible senior notes*	$	—			$	—			$	370,994			$	370,994
Total Financial Liabilities		$	—			$	—			$	370,994			$	370,994
		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:

		September 30, 2020
Balance Sheet Classification	Type of Instrument	Level 1				Level 2				Level 3				Total
Financial Assets:
Marketable Securities:	US government obligations	$	292,603			$	—			$	—			$	292,603
	US government agency		19,995				—				—				19,995
Total Financial Assets		$	312,598			$	—			$	—			$	312,598
Financial Liabilities:
Development derivative   liability	Development derivative   liability	$	—			$	—			$	217,778			$	217,778
Total Financial Liabilities		$	—			$	—			$	217,778			$	217,778
		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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