Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Measurements

Schedule of financial assets and liabilities subject to fair value measurements

	As of
	March 31, 2021		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Money market funds and cash equivalents	$	63,946		—	$	63,946		—
Marketable securities		106,770		—		106,770		—
	$	170,716		—	$	170,716		—
Liabilities:
Kolltan acquisition contingent consideration	$	8,750		—		—	$	8,750
	$	8,750		—		—	$	8,750

	As of
	December 31, 2020		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Money market funds and cash equivalents	$	35,066		—	$	35,066		—
Marketable securities		150,586		—		150,586		—
	$	185,652		—	$	185,652		—
Liabilities:
Kolltan acquisition contingent consideration	$	8,267		—		—	$	8,267
	$	8,267		—		—	$	8,267

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 three months ended March 31, 2021 (in thousands):

	Other  Liabilities:
	Contingent
	Consideration
Balance at December 31, 2020	$	8,267
Fair value adjustments included in operating expenses		483
Balance at March 31, 2021	$	8,750