Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Assets and Liabilities that Require Fair Value Measurements on a Recurring Basis

The following table summarizes the Company’s assets and liabilities that require fair value measurements on a recurring basis and their respective input levels based on the fair value hierarchy (in thousands):



			Fair Value Measurements at Reporting Date
	Total		Level 1		Level 2		Level 3
As of December 31, 2019:
Assets
Cash equivalents	$	73,761	$	73,761	$	—	$	—
As of December 31, 2018:
Assets
Cash equivalents	$	59,357	$	59,357	$	—	$	—

Activity for Preferred Stock Warrant Liability and Derivative Liability Measured at Fair Value Using Significant Unobservable Level 3 Inputs

The following tables present activity for the preferred stock warrant liability and the derivative liability measured at fair value using significant unobservable Level 3 inputs during the year ended December 31, 2018 (in thousands):



	Preferred Stock Warrant Liability
Balance at December 31, 2017	1,656
Issuance of warrants	2,822
Exercise of warrants	(1,197		)
Changes in fair value reflected as change in fair value of warrant liability	(11		)
Conversion to common stock warrants upon IPO	(3,270		)
Balance at December 31, 2018	$	—



	Derivative Liability
Balance at December 31, 2017	3,028
Changes in fair value reflected as change in fair value of derivative liability	676
Extinguishment of derivative upon conversion of convertible promissory notes	(3,704		)
Balance at December 31, 2018	$	—