| Marketable Securities |
4. Marketable Securities
Marketable securities, which are classified as available-for-sale, consisted of the following as of September 30, 2020 (in thousands):
|
|
|
Amortized
Cost Basis |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
28,832 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
28,832 |
|
|
U.S. and foreign commercial paper |
|
|
9,999 |
|
|
|
— |
|
|
|
— |
|
|
|
9,999 |
|
|
Total cash equivalents |
|
|
38,831 |
|
|
|
— |
|
|
|
— |
|
|
|
38,831 |
|
|
Short-term marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. and foreign commercial paper |
|
|
13,740 |
|
|
|
3 |
|
|
|
— |
|
|
|
13,743 |
|
|
U.S. and foreign corporate debt securities |
|
|
8,577 |
|
|
|
15 |
|
|
|
— |
|
|
|
8,592 |
|
|
U.S. government debt securities |
|
|
20,902 |
|
|
|
22 |
|
|
|
— |
|
|
|
20,924 |
|
|
U.S. treasuries |
|
|
40,348 |
|
|
|
26 |
|
|
|
— |
|
|
|
40,374 |
|
|
Total short-term marketable securities |
|
|
83,567 |
|
|
|
66 |
|
|
|
— |
|
|
|
83,633 |
|
|
Total |
|
$ |
122,398 |
|
|
$ |
66 |
|
|
$ |
— |
|
|
$ |
122,464 |
|
Marketable securities, which are classified as available-for-sale, consisted of the following as of December 31, 2019 (in thousands):
|
|
|
Amortized
Cost Basis |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
29,377 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
29,377 |
|
|
U.S. and foreign commercial paper |
|
|
4,999 |
|
|
|
— |
|
|
|
— |
|
|
|
4,999 |
|
|
U.S. government debt securities |
|
|
2,550 |
|
|
|
— |
|
|
|
— |
|
|
|
2,550 |
|
|
Total cash equivalents |
|
|
36,926 |
|
|
|
— |
|
|
|
— |
|
|
|
36,926 |
|
|
Short-term marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. and foreign commercial paper |
|
|
11,965 |
|
|
|
7 |
|
|
|
— |
|
|
|
11,972 |
|
|
U.S. and foreign corporate debt securities |
|
|
8,748 |
|
|
|
8 |
|
|
|
(1 |
) |
|
|
8,755 |
|
|
U.S. government debt securities |
|
|
48,647 |
|
|
|
71 |
|
|
|
— |
|
|
|
48,718 |
|
|
U.S. treasuries |
|
|
15,057 |
|
|
|
6 |
|
|
|
— |
|
|
|
15,063 |
|
|
Total short-term marketable securities |
|
|
84,417 |
|
|
|
92 |
|
|
|
(1 |
) |
|
|
84,508 |
|
|
Long-term marketable securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. treasuries |
|
|
3,025 |
|
|
|
— |
|
|
|
— |
|
|
|
3,025 |
|
|
Total long-term marketable securities |
|
|
3,025 |
|
|
|
— |
|
|
|
— |
|
|
|
3,025 |
|
|
Total |
|
$ |
124,368 |
|
|
$ |
92 |
|
|
$ |
(1 |
) |
|
$ |
124,459 |
|
At September 30, 2020, the remaining contractual maturities of available-for-sale securities were less than one year. There have been no significant realized gains or losses on available-for-sale securities for the periods presented. Available-for-sale debt securities that were in a continuous loss position but were not deemed to be other than temporarily impaired were immaterial at both September 30, 2020 and December 31, 2019. The Company does not intend to and does not believe it is more likely than not that it will be required to sell these debt securities before their maturities.
See Note 3, “Fair Value Measurements,” for further information regarding the fair value of the Company’s financial instruments.
|