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Fair Value Measurement (Tables)

6 Months Ended

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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- References

No definition available.

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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

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