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Marketable Securities and Fair Value Measurements
 12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Marketable Securities and Fair Value Measurements Marketable Securities and Fair Value Measurements
Marketable Securities

Marketable securities, classified as available-for-sale, consisted of the following (in thousands):
December 31, 2020December 31, 2019
 Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAmortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Certificates of deposit$2,150 $— $— $2,150 $10,548 $10 $— $10,558 
Corporate securities45,070 83 (8)45,145 51,745 207 (1)51,951 
U.S. Treasury and agency securities9,493 12 — 9,505 9,222 3 — 9,225 
Commercial paper12,136 —— 12,136 500 — 500 
Asset-backed securities5,904 11 — 5,915 11,914 32 — 11,946 
Total$74,753 $106 $(8)$74,851 $83,929 $252 $(1)$84,180 

During the years ended December 31, 2020 and 2019, the Company did not reclassify any amount to earnings from accumulated other comprehensive income (loss) related to unrealized gains or losses.

The following table summarizes the cost and estimated fair value of marketable securities based on stated effective maturities as of December 31, 2020 (in thousands):
 Amortized CostFair Value
Less than 1 year$58,717 $58,754 
Mature in 1 - 3 years16,036 16,097 
Total$74,753 $74,851 

All available-for-sale securities are classified as current because they are available for use in current operations.

Marketable securities in an unrealized loss position consisted of the following (in thousands):
Less Than 12 Months12 Months or MoreTotal
As of December 31, 2020Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Certificates of deposit$— $— $— $— $— $— 
Corporate securities20,355 (8)— — 20,355 (8)
U.S. Treasury and agency securities— — — — — — 
Commercial paper— — — — — — 
Asset-backed securities— — — — — — 
Total$20,355 $(8)$— $— $20,355 $(8)

Less Than 12 Months12 Months or MoreTotal
As of December 31, 2019Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Certificates of deposit$— $— $— $— $— $— 
Corporate securities2,996 (1)— — 2,996 (1)
U.S. Treasury and agency securities— — — — — — 
Commercial paper— — — — — — 
Asset-backed securities— — — — — — 
Total$2,996 $(1)$— $— $2,996 $(1)

Based on evaluation of securities that have been in a continuous loss position, the Company determined all gross unrealized losses on its marketable securities as of December 31, 2020 were temporary in nature and related primarily to interest rate shifts rather than changes in the underlying credit quality of the securities in a loss position. The Company has the ability to hold these investments until maturity, or for at least the foreseeable future. As such, no decline has been deemed to be other-than-temporary by the Company.
Fair Value Measurements

The following is a summary of the Company’s cash, cash equivalents and marketable securities measured at fair value on a recurring basis (in thousands):
 December 31, 2020December 31, 2019
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash$62,388 $— $— $62,388 $35,546 $— $— $35,546 
Cash equivalents20,893 — — 20,893 10,196 — — 10,196 
Certificates of deposit— 2,150 — 2,150 — 10,558 — 10,558 
Corporate securities— 45,145 — 45,145 — 51,951 — 51,951 
U.S. Treasury and agency securities— 9,505 — 9,505 — 9,225 — 9,225 
Commercial paper— 12,136 — 12,136 — 500 — 500 
Asset-backed securities— 5,915 — 5,915 — 11,946 — 11,946 
Total$83,281 $74,851 $— $158,132 $45,742 $84,180 $— $129,922 

There were no transfers between Level 1 and Level 2 fair value measurement categories during the years ended December 31, 2020 and 2019.