Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Financial Instruments Measured at Fair Value on Recurring Basis

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

Balance as of March 31, 2021	Level 1		Level 2		Level 3		Total
Assets:
Money market funds (i)	$	22,875	$	—	$	—	$	22,875
Agency bonds (iii)		—		180,404		—		180,404
Commercial paper (ii)		—		281,611		—		281,611
Corporate notes (iii)		—		32,285		—		32,285
Treasury bonds (iii)		40,090		—		—		40,090
Total assets	$	62,965	$	494,300	$	—	$	557,265

Balance as of December 31, 2020	Level 1		Level 2		Level 3		Total
Assets:
Money market funds (i)	$	16,273	$	—	$	—	$	16,273
Agency bonds (iii)		—		210,302		—		210,302
Commercial paper (iii)		—		277,602		—		277,602
Corporate notes (iii)		—		25,395		—		25,395
Treasury bonds (iii)		30,074		—		—		30,074
Total assets	$	46,347	$	513,299	$	—	$	559,646

(i) Included in cash and cash equivalents on the condensed consolidated balance sheets.

(ii) Included in cash and cash equivalents or short-term investments on the condensed consolidated balance sheets.

(iii) Included in short-term investments on the condensed consolidated balance sheets.