Financial Instruments

3 Months Ended

Mar. 31, 2019

4. Financial Instruments

Financial Assets

The following tables summarize the estimated fair value of the Company’s financial assets measured on a recurring basis as of the dates indicated, which are comprised solely of available-for-sale securities classified as cash equivalents (in thousands):

March 31, 2019	Input Level	Amortized Cost			Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Money market funds	Level 1	$	19,735		$	—	$	—	$	19,735
Total available-for-sale securities classified as cash equivalents			19,735			-		-		19,735
Less amounts classified as cash equivalents			(19,735	)		—		—		(19,735	)
Amounts classified as marketable securities		$	—		$	—	$	—	$	—

December 31, 2018	Input Level	Amortized Cost			Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Money market funds	Level 1	$	10,845		$	—	$	—	$	10,845
Total available-for-sale securities			10,845			—		—		10,845
Less amounts classified as cash equivalents			(10,845	)		—		—		(10,845	)
Amounts classified as marketable securities		$	—		$	—	$	—	$	—

There were no available-for-sale securities in an unrealized gain or loss position as of March 31, 2019 and December 31, 2018.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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