Available For Sale Securities (Tables)

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Summary of Available for Sale Securities at Fair Value

Cash, cash equivalents, and available for sale securities at June 30, 2020 and December 31, 2019 consisted of the following:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in thousands)
June 30, 2020
Cash and cash equivalents	$	245,406	$	—	$	—	$	245,406
Available for sale securities:
U.S. government debt securities	$	49,952	$	—	$	(9)	$	49,943
Total available for sale securities	$	49,952	$	—	$	(9)	$	49,943
Total cash, cash equivalents, and available for sale securities	$	295,358	$	—	$	(9)	$	295,349

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in thousands)
December 31, 2019
Cash and cash equivalents	$	147,449	$	—	$	—	$	147,449
Available for sale securities:
Certificates of deposit	$	245	$	—	$	—	$	245
Total available for sale securities	$	245	$	—	$	—	$	245
Total cash, cash equivalents, and available for sale securities	$	147,694	$	—	$	—	$	147,694

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 June 30, 2020, by contractual maturity, was as follows (in thousands):

Due in one year or less	$	49,943
Due after one year	—
Total available for sale securities	$	49,943

Available for Sale Securities 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 June 30, 2020:

	Unrealized Loss for Less Than 12 Months				Unrealized Loss for 12 Months or More				Total
	Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value
	(in thousands)
June 30, 2020
Available for sale securities:
U.S. government debt securities	$	(9)	$	49,943	$	—	$	—	$	(9)	$	49,943
Total	$	(9)	$	49,943	$	—	$	—	$	(9)	$	49,943