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Financial Instruments
6 Months Ended
Jun. 30, 2020
Financial Instruments Owned At Fair Value [Abstract]  
Financial Instruments

4. Financial Instruments

The fair value and amortized cost of cash equivalents and available-for-sale investments by major security type are presented in the following table (in thousands):

 

 

 

June 30, 2020

 

 

 

Amortized

Cost

 

 

Unrealized

Gain

 

 

Unrealized

Loss

 

Estimated

Fair

Value

 

Cash equivalents and investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market fund

 

$

81,283

 

 

$            —

 

 

$            —

 

$

81,283

 

Corporate debt securities

 

 

31,230

 

 

 

282

 

 

 

 

31,512

 

Commercial paper

 

 

12,453

 

 

 

 

 

 

12,453

 

U.S. government bonds

 

 

7,501

 

 

 

10

 

 

 

 

7,511

 

Asset back securities

 

 

14,764

 

 

 

54

 

 

 

 

14,818

 

Total cash equivalents and investments

 

$

147,231

 

 

$

346

 

 

$            —

 

$

147,577

 

Classified as:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

 

 

 

 

 

 

 

 

 

 

$

81,283

 

Short-term investments

 

 

 

 

 

 

 

 

 

 

 

 

66,294

 

Long-term investments

 

 

 

 

 

 

 

 

 

 

 

 

Total cash equivalents and investments

 

 

 

 

 

 

 

 

 

 

 

$

147,577

 

 

 

 

December 31, 2019

 

 

 

Amortized

Cost

 

 

Unrealized

Gain

 

 

Unrealized

Loss

 

 

Estimated

Fair

Value

 

Cash equivalents and investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market fund

 

$

10,621

 

 

$

 

 

$

 

 

$

10,621

 

Corporate debt securities

 

 

41,556

 

 

 

113

 

 

 

(1

)

 

 

41,668

 

Commercial paper

 

 

35,016

 

 

 

 

 

 

 

 

 

35,016

 

U.S. government bonds

 

 

22,492

 

 

 

19

 

 

 

 

 

 

22,511

 

Asset-backed securities

 

 

28,762

 

 

 

25

 

 

 

 

 

 

28,787

 

Total cash equivalents and investments

 

$

138,447

 

 

$

157

 

 

$

(1

)

 

$

138,603

 

Classified as:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

 

$

10,621

 

Short-term investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

104,690

 

Long-term investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

23,292

 

Total cash equivalents and investments

 

 

 

 

 

 

 

 

 

 

 

 

 

$

138,603

 

 

 

As of June 30, 2020, the remaining contractual maturities of available-for-sale debt securities were as follows (in thousands):

 

 

 

Estimated

Fair Value

 

 

Due within one year

 

$

65,398

 

 

One to two years

 

 

896

 

 

Total

 

$

66,294

 

 

 

During the three and six months ended June 30, 2020 and 2019, there have been no significant realized gains or losses on available-for-sale investments, and the Company did not recognize any other-than-temporary impairment losses.