Investments in Marketable Securities (Tables)

9 Months Ended

Sep. 30, 2020

Investments Debt And Equity Securities [Abstract]

Schedule of Investments in Marketable Securities

Investments in marketable securities consisted of the following (in thousands):

	September 30, 2020
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
Cash equivalents
Money market funds	$	56,444	$	—	$	—		$	56,444
Total cash equivalents		56,444		—		—			56,444
Short-term investments
U.S. and foreign corporate debt securities		36,739		48		(1	)		36,786
Asset-backed securities		13,394		16		(1	)		13,409
U.S. treasury securities		48,018		69		—			48,087
U.S. and foreign commercial paper		81,348		—		—			81,348
Total short-term investments		179,499		133		(2	)		179,630
Total cash equivalents and investments	$	235,943	$	133	$	(2	)	$	236,074

	December 31, 2019
	Amortized Cost		Gross Unrealized Gain (1)		Gross Unrealized Loss (1)			Fair Value
Cash equivalents
Money market funds	$	33,095	$	—	$	—		$	33,095
U.S. and foreign corporate debt securities		5,000		—		(1	)		4,999
U.S. and foreign commercial paper		4,484		—		—			4,484
Total cash equivalents		42,579		—		(1	)		42,578
Short-term investments
U.S. and foreign corporate debt securities		72,452		38		(4	)		72,486
Asset-backed securities		34,008		17		—			34,025
U.S. treasury securities		44,692		24		(2	)		44,714
U.S. and foreign commercial paper		76,086		—		—			76,086
Total short-term investments		227,238		79		(6	)		227,311
Total cash equivalents and investments	$	269,817	$	79	$	(7	)	$	269,889

(1) Gross unrealized gain (loss) is pre-tax.

Schedule of Fair Value of Financial Assets

The following tables present the fair value of the Company’s financial assets measured at fair value on a recurring basis (in thousands):

	September 30, 2020
	Level 1		Level 2		Level 3		Fair Value
Cash equivalents
Money market fund	$	56,444	$	—	$	—	$	56,444
Total cash equivalents		56,444		—		—		56,444
Short-term investments
U.S. and foreign corporate debt securities		—		36,786		—		36,786
Asset-backed securities		—		13,409		—		13,409
U.S. treasury securities		—		48,087		—		48,087
U.S. and foreign commercial paper		—		81,348		—		81,348
Total short-term investments		—		179,630		—		179,630
Total assets measured at fair value	$	56,444	$	179,630	$	—	$	236,074

	December 31, 2019
	Level 1		Level 2		Level 3		Fair Value
Cash equivalents
Money market fund	$	33,095	$	—	$	—	$	33,095
U.S. and foreign corporate debt securities		—		4,999		—		4,999
U.S. and foreign commercial paper		—		4,484		—		4,484
Total cash equivalents		33,095		9,483		—		42,578
Short-term investments
U.S. and foreign corporate debt securities		—		72,486		—		72,486
Asset-backed securities		—		34,025		—		34,025
U.S. treasury securities		—		44,714		—		44,714
U.S. and foreign commercial paper		—		76,086		—		76,086
Total short-term investments		—		227,311		—		227,311
Total assets measured at fair value	$	33,095	$	236,794	$	—	$	269,889