Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Financial Assets and Liabilities Measured on Recurring Basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands):

	December 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds⁽¹⁾	$	63,817	$	—	$	—	$	63,817
Marketable debt securities
Asset-backed securities		—		7,522		—		7,522
Corporate debt securities		—		1,762		—		1,762
Commercial paper		—		1,000		—		1,000
Marketable debt securities		—		10,284		—		10,284
Total fair value of assets	$	63,817	$	10,284	$	—	$	74,101
Liabilities:
Contingent consideration	$	—	$	—	$	980	$	980
Total fair value of liabilities	$	—	$	—	$	980	$	980

	December 31, 2019
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds⁽¹⁾	$	7,232	$	—	$	—	$	7,232
Marketable debt securities
Asset-backed securities		—		19,598		—		19,598
Corporate debt securities		—		19,394		—		19,394
Commercial paper		—		17,892		—		17,892
U.S. Government agency bonds		—		5,497		—		5,497
Marketable debt securities		—		62,381		—		62,381
Total fair value of assets	$	7,232	$	62,381	$	—	$	69,613
Liabilities:
Redeemable convertible preferred stock warrant liability	$	—	$	—	$	1,881	$	1,881
Total fair value of liabilities	$	—	$	—	$	1,881	$	1,881

(1)	Included in cash and cash equivalents in the consolidated balance sheets

Schedule of Changes in Fair Value of Level 3 Financial Instruments

The following table presents a summary of the changes in the fair value of the Company’s Level 3 financial instrument (in thousands):

	Redeemable Convertible Preferred Stock Tranche Liability			TRDF Liability			Redeemable Convertible Preferred Stock Warrant Liability			Contingent Consideration Liability
Fair value as of January 1, 2018	$	8,557		$	136		$	—		$	—
Change in the fair value included in other income (expense), net		(4,542	)		6			—			—
Exercise		(902	)		—			—			—
Fair value as of December 31, 2018		3,113			142			—			—
Recognition of preferred stock warrant liabilities		—			—			2,131			—
Settlement		—			(88	)		—			—
Change in the fair value included in other income (expense), net		(1,970	)		(54	)		(250	)		—
Termination		(1,143	)		—			—			—
Fair value as of December 31, 2019		—			—			1,881			—
Recognition of preferred stock warrant liability		—			—			144			—
Recognition of contingent consideration liability		—			—			—			2,880
Change in the fair value included in other income (expense), net		—			—			897			—
Change in the fair value included in research and development expense		—			—			—			(1,900	)
Conversion of convertible preferred stock warrant into common stock warrant in connection with Merger		—			—			(2,922	)		—
Fair value as of December 31, 2020	$	—		$	—		$	—		$	980