Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Measurements

Schedule of financial assets and liabilities subject to fair value measurements

	As of
	June 30, 2020		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Money market funds and cash equivalents	$	54,597		—	$	54,597		—
Marketable securities		138,888		—		138,888		—
	$	193,485		—	$	193,485		—
Liabilities:
Kolltan acquisition contingent consideration	$	7,587		—		—	$	7,587
	$	7,587		—		—	$	7,587

	As of
	December 31, 2019		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Money market funds and cash equivalents	$	4,024		—	$	4,024		—
Marketable securities		53,151		—		53,151		—
	$	57,175		—	$	57,175		—
Liabilities:
Kolltan acquisition contingent consideration	$	12,485		—		—	$	12,485
	$	12,485		—		—	$	12,485

Schedule of the contingent consideration liabilities measured at fair value using Level 3 inputs

The following table reflects the activity for the Company’s contingent consideration liabilities measured at fair value using Level 3 inputs for the six months ended June 30, 2020 (in thousands):

	Other  Liabilities:
	Contingent
	Consideration
Balance at December 31, 2019	$	12,485
Fair value adjustments included in operating expenses		(4,898)
Balance at June 30, 2020	$	7,587