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Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Financial Instruments [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

	December 31, 2020												December 31, 2019
(in thousands)	Level 1			Level 2			Level 3			Total			Level 1			Level 2			Level 3			Total
Assets
Cash and cash equivalents:
Cash and money market funds	$	43,040		$	—		$	—		$	43,040		$	18,644		$	—		$	—		$	18,644
Commercial paper		—			32,537			—			32,537			—			10,983			—			10,983
U.S. government & agency securities		—			170			—			170			—			—			—			—
U.S. Treasury security		—			5,864			—			5,864			—			—			—			—
Total cash and cash equivalents		43,040			38,571			—			81,611			18,644			10,983			—			29,627
Investments:
Commercial paper		—			112,644			—			112,644			—			16,971			—			16,971
Corporate debt securities		—			17,456			—			17,456			—			2,501			—			2,501
U.S. government & agency securities		—			107,103			—			107,103			—			—			—			—
Total investments		—			237,203			—			237,203			—			19,472			—			19,472
Short-term restricted cash:
Cash		836			—			—			836			300			—			—			300
Long-term restricted cash:
Cash		3,500			—			—			3,500			4,000			—			—			4,000
Total assets measured at fair value	$	47,376		$	275,774		$	—		$	323,150		$	22,944		$	30,455		$	—		$	53,399
Liabilities
Financing Derivative	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Continuation Advances		—			—			—			—			—			—			—			—
Total liabilities measured at fair value	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Summary of Cash, Cash Equivalents and Investments

	As of December 31, 2020
				Gross			Gross
	Amortized			unrealized			unrealized			Fair
	Cost			gains			losses			Value
Cash and cash equivalents:
Cash and money market funds	$	43,040		$	—		$	—		$	43,040
Commercial paper		32,538			—			(1)			32,537
U.S. government & agency securities		170			—			—			170
U.S. Treasury security		5,864			—			—			5,864
Total cash and cash equivalents		81,612			—			(1)			81,611
Investments:
Commercial paper		112,648			4			(8)			112,644
Corporate debt securities		17,360			96			—			17,456
U.S. government & agency securities		107,109			6			(12)			107,103
Total investments		237,117			106			(20)			237,203
Total cash, cash equivalents and investments	$	318,729		$	106		$	(21)		$	318,814
Short-term restricted cash:
Cash	$	836		$	—		$	—		$	836
Long-term restricted cash:
Cash	$	3,500		$	—		$	—		$	3,500
	As of December 31, 2019
				Gross			Gross
	Amortized			unrealized			unrealized			Fair
	Cost			gains			losses			Value
Cash and cash equivalents:
Cash and money market funds	$	18,644		$	—		$	—		$	18,644
Commercial paper		10,983			—			—			10,983
Total cash and cash equivalents		29,627			—			—			29,627
Investments:
Commercial paper		16,971			1			(1)			16,971
Corporate debt securities		2,496			5			—			2,501
Total investments		19,467			6			(1)			19,472
Total cash, cash equivalents and investments	$	49,094		$	6		$	(1)		$	49,099
Short-term restricted cash:
Cash	$	300		$	—		$	—		$	300
Long-term restricted cash:
Cash	$	4,000		$	—		$	—		$	4,000

Summary of Contractual Maturities of Cash Equivalents and Available-for-Sale Investments

	Fair Value
Due in one year or less	$	255,207
Due after one year through 5 years		20,567
Total investments	$	275,774

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- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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