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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Summary of Significant Accounting Policies [Abstract]

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

	March 31, 2021												December 31, 2020
(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	$	906,453		$	—		$	—		$	906,453		$	43,040		$	—		$	—		$	43,040
Commercial paper		—			25,945			—			25,945			—			32,537			—			32,537
U.S. government & agency securities		—			—			—			—			—			170			—			170
U.S. Treasury security		—			—			—			—			—			5,864			—			5,864
Total cash and cash equivalents		906,453			25,945			—			932,398			43,040			38,571			—			81,611
Investments:
Commercial paper		—			75,465			—			75,465			—			112,644			—			112,644
Corporate debt securities		—			15,548			—			15,548			—			17,456			—			17,456
U.S. government & agency securities		—			136,908			—			136,908			—			107,103			—			107,103
Total investments		—			227,921			—			227,921			—			237,203			—			237,203
Short-term restricted cash:
Cash		836			—			—			836			836			—			—			836
Long-term restricted cash:
Cash		3,500			—			—			3,500			3,500			—			—			3,500
Total assets measured at fair value	$	910,789		$	253,866		$	—		$	1,164,655		$	47,376		$	275,774		$	—		$	323,150
Liabilities
Continuation Advances	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Total liabilities measured at fair value	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Computation of Basic and Diluted Net Income (Loss) per Share

		Three Months Ended March 31,
		2021			2020
Net income (loss)		$	(87,435)		$	1,262
Basic
Weighted average shares used in computing basic net income (loss) per share			194,790			153,453
Basic net income (loss) per share		$	(0.45)		$	0.01
Diluted
Weighted average shares used in computing basic net income (loss) per share			194,790			153,453
Add: weighted average stock options			—			1,926
Add: weighted average restricted stock units			—			476
Weighted average shares used in computing diluted net income (loss) per share			194,790			155,855
Diluted net income (loss) per share		$	(0.45)		$	0.01

Anti-dilutive Shares Excluded from Computation of Diluted Net Income (Loss) per Share

		Three Months Ended March 31,
(in thousands)		2021		2020
Shares issuable upon conversion of convertible senior notes		20,690		—
Options to purchase common stock		12,332		14,265
RSUs with time-based vesting		6,527		2,208
RSUs with performance-based vesting		—		138
ESPP shares		—		1,346

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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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Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

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