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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurements of Cash Equivalents, Available-for-Sale Marketable Securities and Free Share Asset/Liability

The fair value measurements of the Company’s cash equivalents, available-for-sale marketable securities and the free share asset/liability are identified at the following levels within the fair value hierarchy (in thousands):

	September 30, 2019 Fair Value Measurements
	Total				Level 1				Level 2				Level 3
Assets:
Cash equivalents:
Money market funds	$	77,213			$	77,213			$	—			$	—
Total	77,213				77,213				—				—
Marketable securities:
Commercial paper securities	180,812				—				180,812				—
Corporate debt securities	71,114				—				71,114				—
U.S. government-sponsored entity debt securities	41,424				—				41,424				—
Total	293,350				—				293,350				—
Total cash equivalents and marketable securities	$	370,563			$	77,213			$	293,350			$	—
Free shares asset	$	239			$	—			$	—			$	239

	December 31, 2018 Fair Value Measurements
	Total				Level 1				Level 2				Level 3
Assets:
Cash equivalents:
Money market funds	$	103,291			$	103,291			$	—			$	—
Total	103,291				103,291				—				—
Marketable securities:
Commercial paper securities	177,224				—				177,224				—
Corporate debt securities	63,870				—				63,870				—
U.S. government-sponsored entity debt securities	18,621				—				18,621				—
Total	259,715				—				259,715				—
Total cash equivalents and marketable securities	$	363,006			$	103,291			$	259,715			$	—
Liabilities:
Free shares liability	$	154			$	—			$	—			$	154

Summary of Estimated Fair Value of Free Shares Valuation Assumptions

Free Shares valuation assumptions:		September 30, 2019				December 31, 2018
Sangamo Stock Price (USD)		$	9.05			$	11.48
TxCell Stock Price (EUR)		€	2.23			€	2.58
EUR / USD Exchange Rate		0.91				0.87
Estimated Correlation Sangamo and TxCell Stock Prices		100.0%				—
Sangamo Stock Price (USD) Volatility Estimate		75.0%				79.9%
TxCell Stock Price (EUR) Volatility Estimate		75.0%				8.6%
EUR / USD Exchange Rate Volatility Estimate		6.8%				7.7%
Risk Free Rate and Cost of Debt by Expected Exercise Date		Varies				Varies

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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.

+ 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
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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-Name Accounting Standards Codification
-Topic 820
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