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FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Cash and Cash Equivalents

Our financial instruments measured at fair value on a recurring basis consisted of money market funds. We value these securities based quoted prices in active markets for identical assets.

Financial instruments are valued based on quoted market prices in active markets include mostly money market securities. Such instruments are generally classified within Level 1 of the fair value hierarchy.

Instruments valued based on quoted prices in markets that are less active, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency are generally classified within Level 2 of the fair value hierarchy and include U.S. treasury securities. We had no Level 2 instruments at June 30, 2021 and December 31, 2020.

Instruments valued based on unobservable inputs which reflect the reporting entity’s own assumptions or data that market participants would use in valuing an instrument are generally classified within Level 3 of the fair value hierarchy. As of June 30, 2021 and December 31, 2020, we did not hold any Level 3 instruments.
Our financial instruments consisted of money market accounts as of June 30, 2021 and December 31, 2020 are classified as cash equivalents.

Financial instruments measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020 are classified based on the valuation technique in the table below (in thousands):

 June 30, 2021 
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$70,620 $— $— $70,620 
Total assets at fair value (1)
$70,620 $— $— $70,620 
(1) The above table excludes $36.7 million of cash held in banks.

 
 December 31, 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 accounts45,614 $— $— $45,614 
Total assets at fair value (2)
$45,614 $— $— 0$45,614 
(2) The above table excludes $13.9 million of cash held in banks.