Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Summary of Financial Assets Recognized at Fair Value on Recurring Basis

As of March 31, 2021 and December 31, 2020, the Company’s financial assets recognized at fair value on a recurring basis consisted of the following:

	Fair Value as of March 31, 2021
	Total		Level 1		Level 2		Level 3
	(In thousands)
Cash equivalents and restricted cash equivalents	$	143,129	$	143,129	$	-	$	-
Marketable securities:
U.S. Treasury and other government securities		204,518		181,118		23,400		-
Financial institution debt securities		169,941		-		169,941		-
Corporate debt securities		51,299		-		51,299		-
Other asset-backed securities		33,502		-		33,502		-
Total marketable securities		459,260		181,118		278,142		-
Total	$	602,389	$	324,247	$	278,142	$	-
	Fair Value as of December 31, 2020
	Total		Level 1		Level 2		Level 3
	(In thousands)
Cash equivalents and restricted cash equivalents	$	163,805	$	163,805	$	-	$	-
Marketable securities:
U.S. Treasury and other government securities		245,668		241,664		4,004		-
Financial institution debt securities		138,443		-		138,443		-
Corporate debt securities		41,766		-		41,766		-
Other asset-backed securities		11,474		-		11,474		-
Total marketable securities		437,351		241,664		195,687		-
Total	$	601,156	$	405,469	$	195,687	$	-