Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.20.4
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring and Nonrecurring Basis
The following table sets forth the amortized cost, gross unrealized gains, gross unrealized losses and fair values of the Company's marketable securities accounted for as available-for-sale securities as of or for the year ended December 31, 2020. There were no such amounts as of or for the year ended December 31, 2019.

December 31, 2020
(in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value
Financial Assets:
Short-term marketable securities:
     U.S. Treasury securities $ 21,357  $ $ (18) $ 21,340 
     Commercial paper 14,543  —  —  14,543 
     Asset-backed securities 14,546  —  (8) 14,538 
     Corporate bonds 17,144  —  (19) 17,125 
Total $ 67,590  $ $ (45) $ 67,546 
Investments Classified by Contractual Maturity Date The following table sets forth the fair value of available-for-sale marketable securities by contractual maturity at December 31, 2020. There were no such amounts as of or for the year ended December 31, 2019.
December 31, 2020
(in thousands) One Year or Less Over One Year Through Five Years Over Five Years Total
Financial Assets:
Marketable Securities:
     U.S. Treasury securities $ 6,075  $ 15,265  $ —  $ 21,340 
     Commercial paper 14,543  —  —  14,543 
     Asset-backed securities 560  13,978  —  14,538 
     Corporate bonds 5,863  11,262  —  17,125 
Total $ 27,041  $ 40,505  $ —  $ 67,546 
Fair Value, Assets Measured on Recurring Basis
The following table sets forth the Company's cash equivalents and marketable securities accounted for as available-for-sale securities that were measured at fair value on a recurring basis based on the fair value hierarchy as of December 31, 2020. As of December 31, 2019, the Company had money market fund cash equivalents (Level 1) in the amount of $163.8 million.

December 31, 2020
(in thousands) Level 1 Level 2 Level 3 Total
Financial Assets:
Cash equivalents:
     Money market funds $ 209,141  $ —  $ —  $ 209,141 
     U.S. Treasury securities 1,000  —  —  1,000 
     Commercial paper —  3,999  —  3,999 
Marketable securities:
     U.S. Treasury securities 21,340  —  —  21,340 
     Commercial paper —  14,543  —  14,543 
     Asset-backed securities —  14,538  —  14,538 
     Corporate bonds —  17,125  —  17,125 
Total $ 231,481  $ 50,205  $ —  $ 281,686