FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of financial instruments measured at fair value on recurring basis

Financial instruments measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019 are classified based on the valuation technique in the table below (in thousands):



	June 30, 2020
	Fair Value Measurements Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Money market accounts	$	45,605	$	—	$	—	$	45,605
Total assets at fair value (1)	$	45,605	$	—	$	—	$	45,605

(1) The above table excludes $8.5 million of cash held in banks.



	December 31, 2019
	Fair Value Measurements Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Money market accounts	$	63,351	$	—	$	—	$	63,351
U.S. Treasury securities	—		3,019		—		3,019
Total assets at fair value (2)	$	63,351	$	3,019	$	—	$	66,370

(2) The above table excludes $23.1 million of cash held in banks.

Schedule of short-term investments

Short-term investments as of December 31, 2019 consisted of the following (in thousands):



	December 31, 2019
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Fair Value
U.S. Treasury securities	$	3,018	$	1	$	—	$	3,019
Total	$	3,018	$	1	$	—	$	3,019