Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Measurements

Schedule of financial assets and liabilities subject to fair value measurements

	As of
	September 30, 2020		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Money market funds and cash equivalents	$	12,152		—	$	12,152		—
Marketable securities		181,443		—		181,443		—
	$	193,595		—	$	193,595		—
Liabilities:
Kolltan acquisition contingent consideration	$	8,249		—		—	$	8,249
	$	8,249		—		—	$	8,249

	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 nine months ended September 30, 2020 (in thousands):

	Other  Liabilities:
	Contingent
	Consideration
Balance at December 31, 2019	$	12,485
Fair value adjustments included in operating expenses		(4,236)
Balance at September 30, 2020	$	8,249