Fair Value (Tables)

9 Months Ended

Sep. 30, 2019

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2019:



	Quoted Prices in ‎Active Markets for ‎Identical Assets ‎(Level 1)		Significant Other ‎Observable Inputs ‎(Level 2)		Significant Other ‎Unobservable ‎Inputs (Level 3)		Total
Assets:
Money market funds	$	—	$	3,300	$	—	$	3,300
Repurchase agreements		—		10,000		—		10,000
Commercial paper		—		16,677		—		16,677
U.S. government agencies and securities		9,029		—		—		9,029
Corporate bonds		—		24,874		—		24,874
Asset-backed securities		—		16,331		—		16,331
Total assets	$	9,029	$	71,182	$	—	$	80,211
Liabilities:
Acquisition-related contingent consideration		—		—		183,139		183,139
Total liabilities	$	—	$	—	$	183,139	$	183,139

There were no changes in the levels or methodology of measurement of financial assets and liabilities during the three and nine months ended September 30, 2019.

The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2018:



	Quoted Prices in ‎Active Markets for ‎Identical Assets ‎(Level 1)		Significant Other ‎Observable Inputs ‎(Level 2)		Significant Other ‎Unobservable ‎Inputs (Level 3)		Total
Assets:
Money market funds	$	—	$	16,193	$	—	$	16,193
Commercial paper		—		40,731		—		40,731
U.S. government agencies and securities		6,734		—		—		6,734
Corporate bonds		—		30,195		—		30,195
Asset-backed securities		—		14,511		—		14,511
Total assets	$	6,734	$	101,630	$	—	$	108,364
Liabilities:
Acquisition-related contingent consideration		—		—		18,773		18,773
Total liabilities	$	—	$	—	$	18,773	$	18,773

Level 3 Fair Value Measurements Using Significant Other Unobservable Inputs for Acquisition-Related Contingent Consideration



	Nine Months Ended		Twelve Months Ended
	September 30, 2019		December 31, 2018
Beginning Balance	$	18,773	$	37,098
Amounts acquired		171,300		—
Settlement of trial enrollment milestone		—		(7,500)
Changes in fair value included in earnings		(6,934)		(10,825)
Ending Balance	$	183,139	$	18,773