Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Measurements

Schedule of fair value hierarchy

The following table represents the Company's fair value hierarchy for its financial assets and liabilities measured at fair value (in thousands):

	Fair Value at March 31, 2020						Fair Value at December 31, 2019
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Money market funds(1)	$	47,654	$	—	$	—	$	42,960	$	—	$	—
Asset-backed securities(2)		―		24,250		—		—		20,000		—
Corporate debt securities(3)		―		126,103		—		—		—		—
Total assets	$	47,654	$	150,353	$	—	$	42,960	$	20,000	$	—
Liabilities
Convertible notes payable	$	—	$	253,331	$	—	$	—	$	125,811	$	—

(1)Classified as cash and cash equivalents as of March 31, 2020 and December 31, 2019, respectively, on the consolidated balance sheets.

(2)Includes $24,250 and $20,000 classified as cash and cash equivalents as of March 31, 2020 and December 31, 2019, respectively, on the consolidated balance sheets.

(3)Includes $68,629 classified as cash and cash equivalents as of March 31, 2020 on the consolidated balance sheets.