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Cash, Cash Equivalents and Marketable Securities
 3 Months Ended
Mar. 31, 2020
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents, and Marketable Securities Cash, Cash Equivalents and Marketable Securities
The following tables summarize the amortized cost and the estimated fair value of our cash, cash equivalents and marketable securities as of March 31, 2020 and December 31, 2019 (in thousands):
March 31, 2020
Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Current assets:
Cash$11,271  $—  $—  $11,271  
Cash equivalents:
Money market funds224,070  —  —  224,070  
Commercial paper34,634  —  —  34,634  
Total cash and cash equivalents269,975  —  —  269,975  
Marketable securities:
Commercial paper39,528  —  —  39,528  
Corporate debt securities70,543  273  (66) 70,750  
Certificate of deposits39,940  —  —  39,940  
Total marketable securities150,011  273  (66) 150,218  
Total cash, cash equivalents and marketable securities
$419,986  $273  $(66) $420,193  

December 31, 2019
Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Current assets:
Cash$43,058  $—  $—  $43,058  
Cash equivalents:
Money market funds11,527  —  —  11,527  
Commercial paper7,485  —  —  7,485  
Total cash and cash equivalents62,070  —  —  62,070  
Marketable securities:
Commercial paper73,366  —  —  73,366  
Corporate debt securities74,038  381  (2) 74,417  
Certificate of deposits41,302  —  —  41,302  
Total marketable securities188,706  381  (2) 189,085  
Total cash, cash equivalents and marketable securities
$250,776  $381  $(2) $251,155  
The following table summarizes the cost and fair value of marketable securities based on stated effective maturities as of March 31, 2020 (in thousands):
Amortized Cost
Fair Value
Due within one year$127,968  $128,147  
Due between one and two years22,043  22,071  
Total$150,011  $150,218  
We regularly review our available-for-sale marketable securities in an unrealized loss position and evaluate the current expected credit loss by considering factors such as historical experience, market data, issuer-specific factors, and current economic conditions. For all marketable securities that have been in a continuous loss position as of March 31, 2020, we have the ability and intent to hold until maturity or recovery. We determined the gross unrealized losses were caused by market fluctuations. There have been no specific facts or circumstances that have arisen to indicate that there has been any significant deterioration in the creditworthiness of the issuers of these securities. As such, we determined no allowance for credit losses was deemed necessary.
Accrued interest receivable is recorded in “Prepaid expenses and other current assets” on our condensed consolidated balance sheets and was $0.7 million and $0.6 million as of March 31, 2020 and December 31, 2019, respectively.
See Note 5 for further information regarding the fair value of our financial instruments.