| Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis |
Assets and liabilities measured at fair value on a recurring basis are as follows (in thousands):
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Fair Value Measurements Using |
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Total |
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Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) |
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Significant
Other
Observable
Inputs
(Level 2) |
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Significant
Unobservable
Inputs
(Level 3) |
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As of December 31, 2018: |
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Assets: |
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Current: |
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Cash equivalents |
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$ |
16,019 |
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$ |
16,019 |
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$ |
— |
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$ |
— |
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Available-for-sale investments, short-term: |
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Asset-backed securities |
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7,773 |
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— |
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7,773 |
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— |
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Commercial paper |
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6,144 |
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— |
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6,144 |
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— |
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Corporate debt securities |
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12,666 |
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— |
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12,666 |
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— |
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Sub-total short-term investments |
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26,583 |
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— |
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26,583 |
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— |
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Total assets measured at fair value |
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$ |
42,602 |
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$ |
16,019 |
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$ |
26,583 |
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$ |
— |
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As of December 31, 2017: |
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Assets: |
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Current: |
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Cash equivalents |
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$ |
9,070 |
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$ |
9,070 |
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$ |
— |
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$ |
— |
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Available-for-sale investments, short-term: |
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Asset-backed securities |
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6,497 |
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— |
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6,497 |
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— |
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Commercial paper |
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21,943 |
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— |
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21,943 |
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— |
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Corporate debt securities |
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18,260 |
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— |
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18,260 |
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— |
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United States Treasury securities |
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17,328 |
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17,328 |
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— |
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— |
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Sub-total short-term investments |
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64,028 |
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17,328 |
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46,700 |
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— |
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Total assets measured at fair value |
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$ |
73,098 |
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$ |
26,398 |
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$ |
46,700 |
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$ |
— |
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| Schedule of Available-for-sale Investments |
As of December 31, 2018 and 2017, available-for-sale investments are detailed as follows (in thousands):
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December 31, 2018 |
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Gross
Amortized
Cost |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Market Value |
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Available-for-sale investments, short-term: |
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Asset-backed securities |
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$ |
7,777 |
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$ |
— |
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$ |
(4 |
) |
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$ |
7,773 |
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Commercial paper |
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6,144 |
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— |
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— |
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6,144 |
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Corporate debt securities |
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12,672 |
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— |
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(6 |
) |
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12,666 |
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$ |
26,593 |
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$ |
— |
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$ |
(10 |
) |
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$ |
26,583 |
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December 31, 2017 |
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Gross
Amortized
Cost |
|
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Gross
Unrealized
Gains |
|
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Gross
Unrealized
Losses |
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Market Value |
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|
Available-for-sale investments, short-term: |
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Asset-backed securities |
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$ |
6,501 |
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$ |
— |
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$ |
(4 |
) |
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$ |
6,497 |
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Commercial paper |
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21,943 |
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— |
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— |
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21,943 |
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Corporate debt securities |
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18,286 |
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— |
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(26 |
) |
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18,260 |
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United States Treasury securities |
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17,368 |
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— |
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(40 |
) |
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17,328 |
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$ |
64,098 |
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$ |
— |
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$ |
(70 |
) |
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$ |
64,028 |
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