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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2020
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 are as follows:
| Total |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 7,602 |  |  | $ | 7,602 |  |  | $ | — |  |  | $ | — |
Short-term investments: |  |  |  |  |  |  |
Commercial paper | 15,188 |  |  | — |  |  | 15,188 |  |  | — |
Corporate notes/bonds | 45,065 |  |  | — |  |  | 45,065 |  |  | — |
U.S. Treasuries | 2,275 |  |  | — |  |  | 2,275 |  |  | — |
U.S. government agency securities | 6,051 |  |  | — |  |  | 6,051 |  |  | — |
Total financial assets | $ | 76,181 |  |  | $ | 7,602 |  |  | $ | 68,579 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |
Common stock warrant liability | $ | 257 |  |  | $ | — |  |  | $ | — |  |  | $ | 257 |
Total financial liabilities | $ | 257 |  |  | $ | — |  |  | $ | — |  |  | $ | 257 |
Assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 are as follows:
| Total |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 31,078 |  |  | $ | 31,078 |  |  | $ | — |  |  | $ | — |
Commercial paper | 2,498 |  |  | — |  |  | 2,498 |  |  | — |
Short-term investments: |  |  |  |  |  |  |
Commercial paper | 11,433 |  |  | — |  |  | 11,433 |  |  | — |
Corporate notes/bonds | 36,597 |  |  | — |  |  | 36,597 |  |  | — |
U.S. Treasuries | 4,512 |  |  | — |  |  | 4,512 |  |  | — |
U.S. government agency securities | 9,784 |  |  | — |  |  | 9,784 |  |  | — |
Total financial assets | $ | 95,902 |  |  | $ | 31,078 |  |  | $ | 64,824 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |
Common stock warrant liability | $ | 414 |  |  | $ | — |  |  | $ | — |  |  | $ | 414 |
Total financial liabilities | $ | 414 |  |  | $ | — |  |  | $ | — |  |  | $ | 414 |
Schedule of Assumptions Used to Estimate Fair Value of Warrant Liability | The following weighted-average assumptions were used to estimate the fair value of the common stock warrant liability at June 30, 2020:
| June 30, 2020
Expected term | 0.8 years
Risk-free interest rate | 0.2 | %
Expected volatility | 93.09 | %
Expected dividend yield | — | %
Reconciliation of Liabilities Measured at Fair Value on a Recurring Basis | The following is a reconciliation of the Company’s liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3) for the three months ended June 30, 2020:
| Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
| Common Stock Warrant Liability
Balance at December 31, 2019 | $ | 414 |
Additions |
Gain included in other income (expense), net | (157) |
Balance at June 30, 2020 | $ | 257 |

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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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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + 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 (c) -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 + Details
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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 + Details
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