Available for Sale Securities (Tables)

3 Months Ended

Mar. 31, 2019

Investments Debt And Equity Securities [Abstract]

Summary of Available for Sale Securities at Fair Value

Available for sale securities at March 31, 2019 and December 31, 2018 consist of the following:

			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses			Fair Value
	(in thousands)
March 31, 2019
Cash and cash equivalents	$	62,741	$	—	$	—		$	62,741
Available for sale securities:
Certificates of deposit	$	245	$	—	$	(1	)	$	244
U.S. government debt securities		89,549		22		(53	)		89,518
Corporate debt securities		15,539		—		(4	)		15,535
Total available for sale securities	$	105,333	$	22	$	(58	)	$	105,297
Total cash, cash equivalents, and available for sale securities	$	168,074	$	22	$	(58	)	$	168,038

			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses			Fair Value
	(in thousands)
December 31, 2018
Cash and cash equivalents	$	104,644	$	—	$	—		$	104,644
Available for sale securities:
Certificates of deposit	$	245	—		—			$	245
U.S. government debt securities		158,518		1		(198	)		158,321
Corporate debt securities		58,494	—			(64	)		58,430
Total available for sale securities	$	217,257	$	1	$	(262	)	$	216,996
Total cash, cash equivalents, and available for sale securities	$	321,901	$	1	$	(262	)	$	321,640

Estimated Fair Value of Available for Sale Securities by Contractual Maturity

The estimated fair value of the Company’s available for sale securities balance at March 31, 2019, by contractual maturity, is as follows:

Due in one year or less	$	105,297
Due after one year		—
Total available for sale securities	$	105,297

Summary of Available for Sale Securities that were in Continuous Unrealized Loss Position

The following table summarizes the Company’s available for sale securities that were in a continuous unrealized loss position, but were not deemed to be other-than temporarily impaired, as of March 31, 2019 and December 31, 2018:

	Unrealized Loss for Less Than 12 Months					Unrealized Loss for 12 Months or More					Total
	Gross					Gross					Gross
	Unrealized			Estimated		Unrealized			Estimated		Unrealized			Estimated
	Losses			Fair Value		Losses			Fair Value		Losses			Fair Value
	(in thousands)
March 31, 2019
Available for sale securities:
U.S. government debt securities	$	(4	)	$	15,205	$	(50	)	$	39,793	$	(54	)	$	54,998
Corporate debt securities		(4	)		10,536		—			—		(4	)		10,536
Total	$	(8	)	$	25,741	$	(50	)	$	39,793	$	(58	)	$	65,534

	Unrealized Loss for Less Than 12 Months					Unrealized Loss for 12 Months or More					Total
	Gross					Gross					Gross
	Unrealized			Estimated		Unrealized			Estimated		Unrealized			Estimated
	Losses			Fair Value		Losses			Fair Value		Losses			Fair Value
	(in thousands)
December 31, 2018
Available for sale securities:
U.S. government debt securities	$	(159	)	$	116,026	$	(39	)	$	29,934	$	(198	)	$	145,960
Corporate debt securities		(64	)		58,430		—			—		(64	)		58,430
Total	$	(223	)	$	174,456	$	(39	)	$	29,934	$	(262	)	$	204,390