Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019, and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands):

	Fair Value Measurement as of March 31, 2020
	Level 1		Level 2		Level 3		Total
Financial Assets:
Cash equivalents:
Money market funds	$	138,733	$	—	$	—	$	138,733
Commercial paper		—		27,478		—		27,478
U.S. government treasury securities		—		12,000		—		12,000
Certificates of deposit		—		3,202		—		3,202
Marketable Securities:
Corporate debt securities		—		319,499		—		319,499
U.S. government agencies		—		14,972		—		14,972
Certificates of deposit		—		39,919		—		39,919
U.S. government treasury securities		—		107,054		—		107,054
Commercial paper		—		118,940		—		118,940
Total financial assets	$	138,733	$	643,064	$	—	$	781,797

	Fair Value Measurement as of December 31, 2019
	Level 1		Level 2		Level 3		Total
Financial Assets:
Cash equivalents:
Money market funds	$	588,762	$	—	$	—	$	588,762
Marketable Securities:
Corporate debt securities		—		80,417		—		80,417
U.S. government treasury securities		—		72,473		—		72,473
Commercial paper		—		23,784		—		23,784
Total financial assets	$	588,762	$	176,674	$	—	$	765,436