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Fair Value Measurements and Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets Measured on Recurring Basis

The following tables set forth the fair value of the Company’s financial assets that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands).

						September 30, 2021
						Level 1						Level 2						Level 3						Total
Assets:			Classification:
Money market funds			Cash and cash equivalents			$	330,308					$	—					$	—					$	330,308
U.S. Treasury securities			Investments			—						175,202						—						175,202
Total assets measured at fair value						$	330,308					$	175,202					$	—					$	505,510

						December 31, 2020
						Level 1						Level 2						Level 3						Total
Assets:			Classification:
Money market funds			Cash and cash equivalents			$	333,585					$	—					$	—					$	333,585
U.S. Treasury securities			Investments			—						98,278						—						98,278
Total assets measured at fair value						$	333,585					$	98,278					$	—					$	431,863

Schedule of Debt Securities, Available-for-sale, Unrealized Gain

The following is a summary of the Company’s cash equivalents and investments and the gross unrealized holding gains and losses (in thousands):

			September 30, 2021
			Amortized Cost Basis						Unrealized Gains						Unrealized Losses						Fair Value
Assets:
Money market funds			$	330,308					$	—					$	—					$	330,308
U.S. Treasury securities			175,210						12						(20)						175,202
Total			$	505,518					$	12					$	(20)					$	505,510

			December 31, 2020
			Amortized Cost Basis						Unrealized Gains						Unrealized Losses						Fair Value
Assets:
Money market funds			$	333,585					$	—					$	—					$	333,585
U.S. Treasury securities			98,223						57						(2)						98,278
Total			$	431,808					$	57					$	(2)					$	431,863

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

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- References

No definition available.

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- 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

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