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Cash, Cash Equivalents and Short-Term Investments | 9 Months Ended
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Sep. 30, 2020
Cash, Cash Equivalents and Short-Term Investments |
Cash, Cash Equivalents and Short-Term Investments | NOTE 2. CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS Securities classified as cash, cash equivalents and short-term investments as of September 30, 2020 and December 31, 2019 are summarized below. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2020
​ | ​ | ​ | ​ | Gross Unrealized | ​ | ​ | ​
​ |  | Amortized Cost |  | Gains |  | Losses |  | Fair Value
Cash and cash equivalents: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Money market funds | ​ | $ | 83,011 | ​ | $ | — | ​ | $ | — | ​ | $ | 83,011
Commercial paper | ​ |  | 6,499 | ​ |  | — | ​ |  | — | ​ |  | 6,499
Cash | ​ | ​ | 1,499 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,499
Total cash and cash equivalents | ​ | ​ | 91,009 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 91,009
Short-term investments | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |
Commercial paper | ​ | $ | 41,625 | ​ | $ | 30 | ​ | $ | (1) | ​ | $ | 41,654
Corporate bonds | ​ | ​ | 39,219 | ​ | ​ | 58 | ​ | ​ | (3) | ​ | ​ | 39,274
U.S. government-sponsored agency bonds | ​ | ​ | 9,334 | ​ | ​ | 3 | ​ | ​ | — | ​ | ​ | 9,337
Asset-backed securities | ​ |  | 3,221 | ​ |  | 2 | ​ |  | — | ​ |  | 3,223
U.S. treasury notes | ​ |  | 999 | ​ |  | 1 | ​ |  | — | ​ |  | 1,000
Total short-term investments | ​ | ​ | 94,398 | ​ | ​ | 94 | ​ | ​ | (4) | ​ | ​ | 94,488
Total cash equivalents and short-term investments | ​ | $ | 185,407 | ​ | $ | 94 | ​ | $ | (4) | ​ | $ | 185,497
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019
​ | ​ | ​ | ​ | Gross Unrealized | ​ | ​ | ​
​ |  | Amortized Cost |  | Gains |  | Losses |  | Fair Value
Cash and cash equivalents: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Money market funds | ​ | $ | 147,208 | ​ | $ | — | ​ | $ | — | ​ | $ | 147,208
Commercial paper | ​ |  | 19,357 | ​ |  | 3 | ​ |  | — | ​ |  | 19,360
Corporate bonds | ​ |  | 11,441 | ​ |  | — | ​ |  | — | ​ |  | 11,441
Cash | ​ |  | 3,124 | ​ |  | — | ​ |  | — | ​ |  | 3,124
Total cash and cash equivalents | ​ | ​ | 181,130 | ​ | ​ | 3 | ​ | ​ | — | ​ | ​ | 181,133
Short-term investments | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |
Commercial paper | ​ | $ | 36,667 | ​ | $ | 14 | ​ | $ | — | ​ | $ | 36,681
Corporate bonds | ​ |  | 21,690 | ​ |  | 6 | ​ |  | (3) | ​ |  | 21,693
Asset-backed securities | ​ |  | 8,005 | ​ |  | — | ​ |  | — | ​ |  | 8,005
Total short-term investments | ​ | ​ | 66,362 | ​ | ​ | 20 | ​ | ​ | (3) | ​ | ​ | 66,379
Total cash equivalents and short-term investments | ​ | $ | 247,492 | ​ | $ | 23 | ​ | $ | (3) | ​ | $ | 247,512
​ All available-for-sale securities held as of September 30, 2020 had contractual maturities of less than one year. The Company’s available-for-sale securities are subject to a periodic impairment review. The Company considers a debt security to be impaired when the fair value of that security is less than its carrying cost, in which case the Company would further evaluate the investment to determine whether the security is other-than-temporarily impaired. When the Company evaluates an investment for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition or creditworthiness of the issuer and any changes thereto, intent to sell, and whether it is more likely than not the Company will be required to sell the investment before the recovery of its cost basis. If an investment is other-than-temporarily impaired, the Company writes the investment down through the statement of operations to its fair value and establishes that value as the new cost basis for the investment. Management has determined that none of the Company’s available-for-sale securities were other-than-temporarily impaired in any of the periods presented, and as of September 30, 2020, no investment was in a continuous unrealized loss position for more than one year. As such, the Company believes that it is more likely than not that the investments will be held until maturity or a forecasted recovery of fair value. While our investment policy requires that we only invest in highly-rated securities and limit our exposure to any single issuer, the COVID-19 pandemic may materially affect the financial conditions of issuers, which could result in a default by one or more issuers or result in downgrades below our minimum credit rating requirements.

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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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: 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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