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Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2020
Table Text Blocks  
Schedule of financial instruments measured at fair value

The following table summarizes cash equivalents and marketable securities measured at fair value on a recurring basis as of September 30, 2020 (in thousands):

    

    

Active

    

Observable

    

Unobservable

September 30, 

Markets

Inputs

Inputs

Description

2020

(Level 1)

(Level 2)

(Level 3)

Financial Assets

Cash equivalents:

Money market funds

$

565,221

$

565,221

$

$

U.S. treasury obligations

Investments, available-for-sale:

U.S. government agency securities 

643,938

643,938

U.S. treasury obligations

146,741

146,741

Total

$

1,355,900

$

711,962

$

643,938

$

The following table summarizes cash equivalents and marketable securities measured at fair value on a recurring basis as of December 31, 2019 (in thousands):

    

    

Active

    

Observable

    

Unobservable

December 31, 

Markets

Inputs

Inputs

Description

2019

(Level 1)

(Level 2)

(Level 3)

Financial Assets

Cash equivalents:

Money market funds

$

98,946

$

98,946

$

$

U.S. treasury obligations

14,992

14,992

Investments, available-for-sale:

U.S. government agency securities 

128,312

128,312

U.S. treasury obligations

305,710

305,710

Total

$

547,960

$

419,648

$

128,312

$