XML 38 R27.htm IDEA: XBRL DOCUMENT v3.21.1

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

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

The following table presents the Company’s assets that were measured at fair value on a recurring basis, determined using the following inputs as of March 31, 2021:

			Fair Value Measurements at
			March 31, 2021
			Total						Quoted Prices in Active Markets (Level 1)						Significant Other Unobservable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments
Mutual funds			$	228,949,156					$	228,949,156					$	—					$	—
U.S. treasury securities			200,414,000						200,414,000						—						—
Certificates of deposit			2,992,200						—						2,992,200						—
U.S. agency mortgage-backed securities			2,614,172						—						2,614,172						—
Total short-term investments			434,969,528						429,363,156						5,606,372						—
Investment in affiliated entity			3,629,891						3,629,891						—						—
Total assets measured at fair value			$	438,599,419					$	432,993,047					$	5,606,372					$	—

The following table presents the Company’s assets that were measured at fair value on a recurring basis, determined using the following inputs as of December 31, 2020:

			Fair Value Measurements at
			December 31, 2020
			Total						Quoted Prices in Active Markets (Level 1)						Significant Other Unobservable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Cash and cash equivalents
U.S. treasury securities			$	59,996,800					$	59,996,800					$	—					$	—
Short-term investments
Mutual funds			154,873,174						154,873,174						—						—
Certificates of deposit			3,016,260												3,016,260						—
U.S. agency mortgage-backed securities			3,025,501						—						3,025,501						—
Total short-term investments			160,914,935						154,873,174						6,041,761						—
Investment in affiliated entities			4,460,366						4,460,366						—						—
Total assets measured at fair value			$	225,372,101					$	219,330,340					$	6,041,761					$	—

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-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://www.xbrl.org/2003/role/disclosureRef
-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

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration