XML 64 R10.htm IDEA: XBRL DOCUMENT v3.22.0.1
Marketable Securities And Fair Value Measurements
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Marketable securities and fair value measurements

3. Marketable securities and fair value measurements

We did not have marketable securities as of December 31, 2021.

The following tables present our marketable securities by security type as of December 31, 2020:

    

    

Gross

    

Gross

    

Amortized

Unrealized

Unrealized

Fair

(in thousands)

Cost

Gains

Losses

Value

U.S. treasury securities

$

129,446

$

9

$

(4)

$

129,451

Commercial paper

 

52,441

 

 

 

52,441

Corporate debt securities

 

17,542

 

4

 

 

17,546

Total

$

199,429

$

13

$

(4)

$

199,438

Our marketable securities, as of December 31, 2020, consisted of investments that matured within one year.

The following tables present our assets that are measured at fair value on a recurring basis and indicate the level within the fair value hierarchy of the valuation techniques that we utilized to determine such fair value:

    

Fair Value Measurements at December 31, 2021 Using:

(in thousands)

Level 1

Level 2

Level 3

Total

Cash equivalents:

 

  

 

  

 

  

 

  

Money market funds

$

259,609

$

$

$

259,609

    

Fair Value Measurements at December 31, 2020 Using:

(in thousands)

    

Level 1

    

Level 2

    

Level 3

    

Total

Cash equivalents:

  

 

  

 

  

 

  

Money market funds

$

63,827

$

$

$

63,827

Marketable securities:

U.S. treasury securities

129,451

129,451

Commercial paper

52,441

52,441

Corporate debt securities

17,546

17,546

Total

$

63,827

$

199,438

$

$

263,265

Money market funds were valued based on quoted market prices, which represent a Level 1 measurement within the fair value hierarchy. Our marketable securities, which consisted of U.S. treasury securities, commercial paper and corporate debt securities were valued using quoted prices in active markets for similar securities, which represent a Level 2 measurement within the fair value hierarchy.