| 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 September 30, 2021 and December 31, 2020:
|
|
|
|
September 30, 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 |
|
$ |
52,611 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
52,611 |
|
|
Money market funds(1) |
Level 1 |
|
|
51,183 |
|
|
|
— |
|
|
|
— |
|
|
|
51,183 |
|
|
Commercial paper(1) |
Level 2 |
|
|
8,250 |
|
|
|
— |
|
|
|
— |
|
|
|
8,250 |
|
|
Total cash and cash equivalents |
|
|
|
112,044 |
|
|
|
— |
|
|
|
— |
|
|
|
112,044 |
|
|
Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities |
Level 1 |
|
|
43,390 |
|
|
|
11 |
|
|
|
— |
|
|
|
43,401 |
|
|
Commercial paper |
Level 2 |
|
|
69,966 |
|
|
|
— |
|
|
|
(1 |
) |
|
|
69,965 |
|
|
Corporate debt |
Level 2 |
|
|
54,213 |
|
|
|
— |
|
|
|
(16 |
) |
|
|
54,197 |
|
|
Asset-backed securities |
Level 2 |
|
|
13,958 |
|
|
|
— |
|
|
|
(7 |
) |
|
|
13,951 |
|
|
U.S. government agency securities |
Level 2 |
|
|
24,752 |
|
|
|
1 |
|
|
|
— |
|
|
|
24,753 |
|
|
Total investments |
|
|
|
206,279 |
|
|
|
12 |
|
|
|
(24 |
) |
|
|
206,267 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets measured at fair value |
|
|
$ |
318,323 |
|
|
$ |
12 |
|
|
$ |
(24 |
) |
|
$ |
318,311 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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(1) |
Level 1 |
|
|
381,412 |
|
|
|
— |
|
|
|
— |
|
|
|
381,412 |
|
|
Total assets measured at fair value |
|
|
$ |
386,200 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
386,200 |
|
|
|
(1) |
Included within cash and cash equivalents on the condensed balance sheets. |
|
| Schedule of Contractual Maturities of Investments |
The following table presents the contractual maturities of our investments as of September 30, 2021 (in thousands):
|
|
|
September 30, 2021 |
|
|
|
|
Fair Value |
|
|
Due in less than one year |
|
$ |
166,532 |
|
|
Due in one to five years |
|
|
39,735 |
|
|
Total |
|
$ |
206,267 |
|
|