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Fair Value Measurement (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020
--- | --- | ---
Level 2 |  |
Assets: |  |
Available-for-sale investments | $ 891,145 | $ 1,003,348
Recurring |  |
Assets: |  |
Total assets | 939,481 | 1,182,650
Liabilities: |  |
Development derivative liability | 21,387 | 0
Recurring | Corporate notes and bonds |  |
Assets: |  |
Available-for-sale investments | 329,339 | 687,469
Recurring | Corporate commercial paper |  |
Assets: |  |
Available-for-sale investments | 555,924 | 313,497
Recurring | Obligations of U.S. government agencies |  |
Assets: |  |
Available-for-sale investments | 5,882 | 2,382
Recurring | Money market funds |  |
Assets: |  |
Money market funds | 48,336 | 179,302
Recurring | Level 1 |  |
Assets: |  |
Total assets | 48,336 | 179,302
Liabilities: |  |
Development derivative liability | 0 | 0
Recurring | Level 1 | Corporate notes and bonds |  |
Assets: |  |
Available-for-sale investments | 0 | 0
Recurring | Level 1 | Corporate commercial paper |  |
Assets: |  |
Available-for-sale investments | 0 | 0
Recurring | Level 1 | Obligations of U.S. government agencies |  |
Assets: |  |
Available-for-sale investments | 0 | 0
Recurring | Level 1 | Money market funds |  |
Assets: |  |
Money market funds | 48,336 | 179,302
Recurring | Level 2 |  |
Assets: |  |
Total assets | 891,145 | 1,003,348
Liabilities: |  |
Development derivative liability | 0 | 0
Recurring | Level 2 | Corporate notes and bonds |  |
Assets: |  |
Available-for-sale investments | 329,339 | 687,469
Recurring | Level 2 | Corporate commercial paper |  |
Assets: |  |
Available-for-sale investments | 555,924 | 313,497
Recurring | Level 2 | Obligations of U.S. government agencies |  |
Assets: |  |
Available-for-sale investments | 5,882 | 2,382
Recurring | Level 2 | Money market funds |  |
Assets: |  |
Money market funds | 0 | 0
Recurring | Level 3 |  |
Assets: |  |
Total assets | 0 | 0
Liabilities: |  |
Development derivative liability | 21,387 | 0
Recurring | Level 3 | Corporate notes and bonds |  |
Assets: |  |
Available-for-sale investments | 0 | 0
Recurring | Level 3 | Corporate commercial paper |  |
Assets: |  |
Available-for-sale investments | 0 | 0
Recurring | Level 3 | Obligations of U.S. government agencies |  |
Assets: |  |
Available-for-sale investments | 0 | 0
Recurring | Level 3 | Money market funds |  |
Assets: |  |
Money market funds | $ 0 | $ 0

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