XML 60 R27.htm IDEA: XBRL DOCUMENT v3.22.0.1
Fair Value Measurements and Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis The following tables set forth our financial instruments measured at fair value on a recurring basis by level within the fair value hierarchy at December 31, 2021 and 2020:

 

 

 

 

December 31, 2021

 

 

Fair Value
Hierarchy Level

 

Amortized
Cost

 

 

Gross
Unrealized Gains

 

 

Gross
Unrealized Losses

 

 

Fair
Value

 

Assets

 

 

(in thousands)

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash

Level 1

 

$

27,834

 

 

$

 

 

$

 

 

$

27,834

 

Money market funds

Level 1

 

 

17,555

 

 

 

 

 

 

 

 

 

17,555

 

Commercial paper

Level 2

 

 

23,597

 

 

 

 

 

 

(1

)

 

 

23,596

 

Total cash and cash equivalents

 

 

$

68,986

 

 

$

 

 

$

(1

)

 

$

68,985

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

Level 1

 

 

45,290

 

 

 

 

 

 

(73

)

 

 

45,217

 

Commercial paper

Level 2

 

 

61,941

 

 

 

 

 

 

(22

)

 

 

61,919

 

Corporate debt

Level 2

 

 

58,498

 

 

 

 

 

 

(74

)

 

 

58,424

 

Asset backed securities

Level 2

 

 

13,899

 

 

 

 

 

 

(25

)

 

 

13,874

 

U.S. government agency securities

Level 2

 

 

24,714

 

 

 

 

 

 

(46

)

 

 

24,668

 

Total investments

 

 

 

204,342

 

 

 

 

 

 

(240

)

 

 

204,102

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets measured at fair value

 

 

$

273,328

 

 

$

 

 

$

(241

)

 

$

273,087

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2020

 

 

Fair Value
Hierarchy Level

 

Amortized
Cost

 

 

Gross
Unrealized Gains

 

 

Gross
Unrealized Losses

 

 

Fair
Value

 

Assets

 

 

(in thousands)

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash

Level 1

 

$

4,788

 

 

$

 

 

$

 

 

$

4,788

 

Money market funds

Level 1

 

 

381,412

 

 

 

 

 

 

 

 

 

381,412

 

Total assets measured at fair value

 

 

$

386,200

 

 

$

 

 

$

 

 

$

386,200

 

Schedule of Contractual Maturities of Investments

The following table presents the contractual maturities of our investments as of December 31, 2021 (in thousands):

 

 

 

December 31, 2021

 

 

 

Fair Value

 

Due in less than one year

 

$

176,985

 

Due in one to five years

 

 

27,117

 

Total

 

$

204,102