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Fair Value Measurements and Marketable Debt Securities (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Cash Equivalents and Marketable Debt Securities

The following tables summarize the Company’s cash equivalents and marketable debt securities as of March 31, 2020 and December 31, 2019:

		March 31, 2020
						Quoted				Significant
						Prices in				Other				Significant
						Active				Observable				Unobservable
						Markets				Inputs				Inputs
		Total				(Level 1)				(Level 2)				(Level 3)
		(in thousands)
Cash equivalents:
Money market funds		$	35,865			$	35,865			$	—			$	—
Total cash equivalents			35,865				35,865				—				—
Marketable debt securities:
U.S. government securities			10,629				—				10,629				—
Corporate bonds			8,589				—				8,589				—
Commercial paper			5,687				—				5,687				—
Total marketable debt securities			24,905				—				24,905				—
Total cash equivalents and marketable debt securities		$	60,770			$	35,865			$	24,905			$	—

		December 31, 2019
						Quoted				Significant
						Prices in				Other				Significant
						Active				Observable				Unobservable
						Markets				Inputs				Inputs
		Total				(Level 1)				(Level 2)				(Level 3)
	(in thousands)
Cash equivalents:
Money market funds		$	18,289			$	18,289			$	—			$	—
U.S. Government securities			3,098				—				3,098				—
Commercial paper			1,047				—				1,047				—
Total cash equivalents			22,434				18,289				4,145				—
Marketable debt securities:
U.S. Government securities			14,996				—				14,996				—
Corporate bonds			14,648				—				14,648				—
Commercial paper			13,406				—				13,406				—
Total marketable debt securities			43,050				—				43,050				—
Total cash equivalents and marketable debt securities		$	65,484			$	18,289			$	47,195			$	—

Summary of Marketable Debt Securities

The following tables summarize the Company’s marketable debt securities as of March 31, 2020 and December 31, 2019:

		March 31, 2020
						Gross				Gross
		Amortized				Unrealized				Unrealized
		Cost				Gains				Losses				Fair Value
		(in thousands)
Assets:
U.S. government securities (due within 1 year)		$	10,596			$	33			$	—			$	10,629
Corporate bonds (due within 1 year)			8,590				3				(4	)			8,589
Commercial paper (due within 1 year)			5,687				—				—				5,687
		$	24,873			$	36			$	(4	)		$	24,905

		December 31, 2019
						Gross				Gross
		Amortized				Unrealized				Unrealized
		Cost				Gains				Losses				Fair Value
		(in thousands)
Assets:
U.S. Government securities (due within 1 year)		$	14,981			$	15			$	—			$	14,996
Corporate bonds (due within 1 year)			14,628				20				—				14,648
Commercial paper (due within 1 year)			13,406				—				—				13,406
		$	43,015			$	35			$	—			$	43,050

X

- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- References

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- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

No definition available.

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