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Cash, Cash Equivalents and Short-Term Investments (Tables)

9 Months Ended

Sep. 30, 2021

Cash, Cash Equivalents and Short-Term Investments

Schedule of cash, cash equivalents and short-term investments

Cash, cash equivalents and short-term investments consisted of the following as of September 30, 2021 and December 31, 2020 (in thousands):

​

​	​	​	​	​	​	​
​	​	September 30,		​	December 31,
​		2021			2020
Cash	​	$	29,296	​	$	25,053
Cash equivalents:	​		​	​	​	​
Money market mutual fund	​		14,384	​	​	11,820
Total cash and cash equivalents	​		43,680	​	​	36,873
Short-term investments:	​		​	​	​	​
U.S. Treasury notes and bills	​		153,377	​	​	23,309
Mutual funds	​		110,060	​	​	33,135
Corporate debt securities	​	​	42,365	​	​	—
Total short-term investments	​		305,802	​	​	56,444
Cash, cash equivalents and short-term investments	​	$	349,482	​	$	93,317

​

Schedule of available-for-sale debt securities

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at September 30, 2021 were as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amortized

Unrealized

Unrealized

​

​

​

​

Cost

​

Gains

​

Losses

​

Fair Value

U.S. Treasury notes

​

$

124,171

​

$

13

​

$

(802)

​

$

123,382

U.S. Treasury bills

​

​

29,987

​

​

8

​

​

—

​

​

29,995

Corporate debt securities

​

​

42,991

​

​

—

​

​

(626)

​

​

42,365

Total available-for-sale investments

​

$

197,149

​

$

21

​

$

(1,428)

​

$

195,742

​

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at December 31, 2020 were as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Unrealized

Unrealized

​

​

​

​

Amortized Cost

​

Gains

​

Losses

​

Fair Value

U.S. Treasury notes

​

$

23,179

$

173

$

(43)

​

$

23,309

Total available-for-sale investments

​

$

23,179

$

173

​

$

(43)

​

$

23,309

Schedule of investments based on stated contractual maturities

The following table summarizes the fair value of available-for-sale investments based on stated contractual maturities as of September 30, 2021:

​

​	​	​	​	​	​	​
​		Amortized Cost			Fair Value
Due within one year	​	$	42,087	​	$	42,085
Due between one and five years	​		155,062	​		153,657
Total	​	$	197,149	​	$	195,742

​

The following table summarizes the fair value of available-for-sale investments based on stated contractual maturities as of December 31, 2020:

​

​	​	​	​	​	​	​
​		Amortized Cost			Fair Value
Due within one year	​	$	14,084		$	14,111
Due between one and two years	​		9,095			9,198
Total	​	$	23,179		$	23,309

Schedule of unrealized gains (losses) on investments

Unrealized gains (losses) during 2021 and 2020 related to equity securities held at September 30, 2021 and 2020 are as follows (in thousands):

​

​	​	​	​	​	​	​
​	​	September 30,
​		2021			2020
Net losses recognized during the nine months ended September 30 on equity securities	​	$	(308)	​	$	(367)
Less: net gains (losses) recognized during the year on equity securities sold during the period	​		—	​	​	(805)
Unrealized gains (losses) recognized during the nine months on equity securities still held at September 30, 2021 and 2020	​	$	(308)	​	$	438

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- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

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