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FAIR VALUE MEASUREMENTS - (Tables) | 3 Months Ended
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Mar. 31, 2021
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, marketable securities and the free shares asset are identified at the following levels within the fair value hierarchy (in thousands):
| March 31, 2021
| Fair Value Measurements
| Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 47,635 |  |  | $ | 47,635 |  |  | $ | — |  |  | $ | — |
Total | 47,635 |  |  | 47,635 |  |  | — |  |  | — |
Marketable securities: |  |  |  |  |  |  |
Commercial paper securities | 177,154 |  |  | — |  |  | 177,154 |  |  | — |
Corporate debt securities | 39,022 |  |  | — |  |  | 39,022 |  |  | — |
Certificates of deposit | 11,494 |  |  | — |  |  | 11,494 |  |  | — |
Asset-backed securities | 36,410 |  |  | — |  |  | 36,410 |  |  | — |
U.S. government-sponsored entity debt securities | 242,460 |  |  | — |  |  | 242,460 |  |  | — |
Total | 506,540 |  |  | — |  |  | 506,540 |  |  | — |
Total cash equivalents and marketable securities | $ | 554,175 |  |  | $ | 47,635 |  |  | $ | 506,540 |  |  | $ | — |
Free shares asset | $ | 38 |  |  | $ | — |  |  | $ | — |  |  | $ | 38 |
| December 31, 2020
| Fair Value Measurements
| Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 53,165 |  |  | $ | 53,165 |  |  | $ | — |  |  | $ | — |
Total | 53,165 |  |  | 53,165 |  |  | — |  |  | — |
Marketable securities: |  |  |  |  |  |  |
Commercial paper securities | 213,533 |  |  | — |  |  | 213,533 |  |  | — |
Corporate debt securities | 59,574 |  |  | — |  |  | 59,574 |  |  | — |
Certificate of deposits | 12,311 |  |  | — |  |  | 12,311 |  |  | — |
Asset-backed securities | 17,908 |  |  | — |  |  | 17,908 |  |  | — |
U.S. government-sponsored entity debt securities | 257,298 |  |  | — |  |  | 257,298 |  |  | — |
Total | 560,624 |  |  | — |  |  | 560,624 |  |  | — |
Total cash equivalents and marketable securities | $ | 613,789 |  |  | $ | 53,165 |  |  | $ | 560,624 |  |  | $ | — |
Free shares asset | $ | 70 |  |  | $ | — |  |  | $ | — |  |  | $ | 70 |
Summary of Estimated Fair Value of Free Shares Valuation Assumptions |
Free Shares valuation assumptions |  | March 31, 2021 |  | December 31, 2020
Sangamo stock price (USD) |  | $ | 11.83 |  |  | $ | 15.61
Sangamo France stock price (EUR) |  | € | 2.92 |  |  | € | 3.85
EUR / USD exchange rate |  | 0.84 |  |  | 0.82
Estimated correlation between Sangamo and Sangamo France stock prices |  | 100.0 | % |  | 100.0 | %
Sangamo stock price (USD) volatility estimate |  | 91.3 | % |  | 88.9 | %
Sangamo France stock price (EUR) volatility estimate |  | 91.3 | % |  | 88.9 | %
EUR / USD exchange rate volatility estimate |  | 6.3 | % |  | 6.3 | %
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 -Subparagraph (b) -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 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=117815213&loc=SL7498348-110258 Reference 4: 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 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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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 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 (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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