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Fair Value Measurement (Tables) | 6 Months Ended
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Jun. 30, 2021
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis and indicates the level of the fair value hierarchy and the valuation techniques we utilized to determine such fair value:
|  | As of June 30, 2021
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |
Corporate notes and bonds |  | $ | — |  |  | $ | 403,551 |  |  | $ | — |  |  | $ | 403,551 |
Corporate commercial paper |  | — |  |  | 487,430 |  |  | — |  |  | 487,430 |
Obligations of U.S. government agencies |  | — |  |  | 5,881 |  |  | — |  |  | 5,881 |
Money market funds |  | 138,289 |  |  | — |  |  | — |  |  | 138,289 |
Total assets |  | $ | 138,289 |  |  | $ | 896,862 |  |  | $ | — |  |  | $ | 1,035,151 |
Liabilities: |  |  |  |  |  |  |  |
Development derivative liability |  | $ | — |  |  | $ | — |  |  | $ | 11,607 |  |  | $ | 11,607 |
|  | As of December 31, 2020
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |
Corporate notes and bonds |  | $ | — |  |  | $ | 687,469 |  |  | $ | — |  |  | $ | 687,469 |
Corporate commercial paper |  | — |  |  | 313,497 |  |  | — |  |  | 313,497 |
Obligations of U.S. government agencies |  | — |  |  | 2,382 |  |  | — |  |  | 2,382 |
Money market funds |  | 179,302 |  |  | — |  |  | — |  |  | 179,302 |
Total assets |  | 179,302 |  |  | $ | 1,003,348 |  |  | $ | — |  |  | $ | 1,182,650 |
Liabilities: |  |  |  |  |  |  |  |
Development derivative liability |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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