Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

The following tables present the fair value of the Company’s financial assets measured at fair value on a recurring basis using the above input categories (in thousands):

	As of September 30, 2020
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	42,518	$	—	$	—	$	42,518
Total cash equivalents		42,518		—		—		42,518
Marketable securities:
U.S. and foreign commercial paper		—		31,059		—		31,059
U.S. and foreign corporate debt securities		—		25,830		—		25,830
Asset-backed securities		—		9,605		—		9,605
U.S. treasury securities		—		32,002		—		32,002
U.S. agency securities		—		15,495		—		15,495
Total marketable securities		—		113,991		—		113,991
Total assets measured at fair value	$	42,518	$	113,991	$	—	$	156,509

	As of December 31, 2019
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	18,597	$	—	$	—	$	18,597
Total cash equivalents		18,597		—		—		18,597
Marketable securities:
U.S. and foreign commercial paper		—		51,102		—		51,102
U.S. and foreign corporate debt securities		—		56,729		—		56,729
Asset-backed securities		—		39,788		—		39,788
U.S. treasury securities		—		18,457		—		18,457
Total marketable securities		—		166,076		—		166,076
Total assets measured at fair value	$	18,597	$	166,076	$	—	$	184,673

Schedule of Amortized Cost, Unrealized Gain and Loss, and Fair Value of Available for Sale Marketable Securities

The following tables summarize amortized cost, unrealized gain and loss, and fair value of the Company’s available-for-sale marketable securities (in thousands): 

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
As of September 30, 2020:
Cash equivalents:
Money market funds	$	42,518	$	—	$	—	$	42,518
Total cash equivalents		42,518		—		—		42,518
Short-term investments:
U.S. and foreign commercial paper		31,059		—		—		31,059
U.S. and foreign corporate debt securities		25,773		57		—		25,830
Asset-backed securities		9,600		5		—		9,605
U.S. treasury securities		31,984		18		—		32,002
U.S. agency securities		15,493		2		—		15,495
Total short-term investments		113,909		82		—		113,991
Total marketable securities	$	156,427	$	82	$	—	$	156,509

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
As of December 31, 2019:
Cash equivalents:
Money market funds	$	18,597	$	—	$	—	$	18,597
Total cash equivalents		18,597		—				18,597
Short-term investments:
U.S. and foreign commercial paper		51,102		—		—		51,102
U.S. and foreign corporate debt securities		56,691		38		—		56,729
Asset-backed securities		39,756		33		—		39,789
U.S. treasury securities		18,447		9		—		18,456
Total short-term investments		165,996		80				166,076
Total marketable securities	$	184,593	$	80	$	—	$	184,673

Computation of Basic and Diluted Net Loss per Share

The following table presents the computation of basic and diluted net loss per share (in thousands, except share and per share amounts):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Numerator:
Net loss allocated to common stock-basic and diluted	$	(11,421	)	$	(26,282	)	$	(35,235	)	$	(73,395	)
Denominator:
Weighted average number of common stock shares outstanding - basic and diluted		68,887,092			68,701,043			68,884,894			66,454,750
Net loss per share - basic and diluted:	$	(0.17	)	$	(0.38	)	$	(0.51	)	$	(1.10	)

Anti-Dilutive Securities Excluded from the Computation of Diluted Net Loss per Share

The following table shows the total outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net loss per share (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Common stock options		8,126		7,949		8,126		7,949
Incentive awards		101		127		101		127
Total		8,227		8,076		8,227		8,076