Cash, Cash Equivalents and Short-Term Investments (Tables)

3 Months Ended

Mar. 31, 2020

Cash And Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents and Short-Term Investments by Significant Investment Category

The following tables show the Company’s cash and cash equivalents and short-term investments by significant investment category as of March 31, 2020, and December 31, 2019 (in thousands):

	March 31, 2020
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value		Cash and cash equivalents		Short term investments
Cash	$	2,048	$	—	$	—		$	2,048	$	2,048	$	—

Level 1⁽¹⁾:
Money market funds		20,485		—		—			20,485		20,485		—
U.S. treasury securities		2,058		14		—			2,072		—		2,072
Subtotal		22,543		14		—			22,557		20,485		2,072
Level 2⁽²⁾:
Commercial paper		1,498		—		—			1,498		—		1,498
Corporate debt obligations		4,456		—		(8	)		4,448		—		4,448
Repurchase agreements		—		—		—			—		—		—
Asset-backed securities		3,011		—		(13	)		2,998		—		2,998
Subtotal		8,965		—		(21	)		8,944		—		8,944

Total	$	33,556	$	14	$	(21	)	$	33,549	$	22,533	$	11,016

	December 31, 2019
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value		Cash and cash equivalents		Short term investments
Cash	$	3,950	$	—	$	—		$	3,950	$	3,950	$	—

Level 1⁽¹⁾:
Money market funds		5,500		—		—			5,500		5,500		—
U.S. treasury securities		3,078		2		(1	)		3,079		—		3,079
Subtotal		8,578		2		(1	)		8,579		5,500		3,079
Level 2⁽²⁾:
Commercial paper		8,920		—		—			8,920		747		8,173
Corporate debt obligations		5,922		5		(1	)		5,926		—		5,926
Repurchase agreements		3,000		—		—			3,000		3,000		—
Asset-backed securities		4,505		3		—			4,508		—		4,508
Subtotal		22,347		8		(1	)		22,354		3,747		18,607

Total	$	34,875	$	10	$	(2	)	$	34,883	$	13,197	$	21,686

⁽¹⁾

Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.

⁽²⁾

Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Schedule of Short-Term Investments

The following table presents the Company's short-term investments with unrealized losses by investment category and length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2020 (in thousands):

	Less than 12 months
Description of securities	Amortized cost		Unrealized losses

Corporate debt obligations	$	3,699	$	(8	)
Asset-backed securities		3,011		(13	)
Total	$	6,710	$	(21	)