Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Measurements

Schedule of financial assets and liabilities subject to fair value measurements

	As of
	September 30, 2021		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Money market funds and cash equivalents	$	66,929		—	$	66,929		—
Marketable securities		350,905		—		350,905		—
	$	417,834		—	$	417,834		—
Liabilities:
Kolltan acquisition contingent consideration	$	7,107		—		—	$	7,107
	$	7,107		—		—	$	7,107

	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 nine months ended September 30, 2021 (in thousands):

	Other Liabilities:
	Contingent
	Consideration
Balance at December 31, 2020	$	8,267
Fair value adjustments included in operating expenses		(1,160)
Balance at September 30, 2021	$	7,107