Fair Value Measurements

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

4.       FAIR VALUE MEASUREMENTS—The Company’s assets and liabilities that were measured at fair value by level within the fair value hierarchy as of December 31, 2020 and March 31, 2021, were as follows:

	As of December 31, 2020
	Fair Value		Level 1		Level 2
Financial assets:
Cash equivalents—money market funds	$	58,997	$	58,997	$	—
Marketable securities:
Corporate debt securities		8,551		—		8,551
Commercial paper		26,469		—		26,469
U.S. government Treasury bills		170,382		170,382		—
Total financial assets	$	264,399	$	229,379	$	35,020

	As of March 31, 2021
	Fair Value		Level 1		Level 2
Financial assets:
Cash equivalents—money market funds	$	133,597	$	133,597	$	—
Marketable securities:
Corporate debt securities		5,500		—		5,500
Commercial paper		16,988		—		16,988
U.S. government Treasury bills		100,241		100,241		—
Total financial assets	$	256,326	$	233,838	$	22,488

The Company remeasures certain assets, including intangible assets and its equity-method investment in a private company, at fair value on a nonrecurring basis when there are identifiable events or changes in circumstances that may have a significant adverse impact on the fair value of these assets. No such events or changes occurred during the three months ended March 31, 2020 and 2021.