FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Mar. 31, 2019

Fair value hierarchy, financial instruments measured at fair value on a recurring basis

The following tables show the fair value of our financial instruments classified into the fair value hierarchy and measured on a recurring basis on the unaudited condensed consolidated balance sheets as of March 31, 2019 and June 30, 2018 (in thousands):



	Fair Value Measurement as of March 31, 2019
	Level 1		Level 2		Level 3		Total
Assets
Current Assets
U.S. treasury securities	$	—	$	123,146	$	—	$	123,146
Commercial paper	—		110,478		—		110,478
Corporate bonds	—		61,773		—		61,773
Asset-backed securities	—		30,759		—		30,759
Mutual fund securities	296		—		—		296
Non-current Assets
Corporate bonds	—		32,465		—		32,465
Asset-back securities	—		22,753		—		22,753
Mutual fund securities	790		—		—		790
Total assets	$	1,086	$	381,374	$	—	$	382,460



	Fair Value Measurement as of June 30, 2018
	Level 1		Level 2		Level 3		Total
Assets
Current Assets
U.S. treasury securities	$	297,504	$	—	$	—	$	297,504
Mutual fund securities	235				—		235
Non-current Assets
Mutual fund securities	919		—		—		919
Total assets	$	298,658	$	—	$	—	$	298,658

Liabilities
Notes payable, at fair value	$	—	$	—	$	15,899	$	15,899

Rollforward of changes in fair value of Level 3 financial instruments

The table below provides a rollforward of the changes in fair value of Level 3 financial instruments for the three and nine months ended March 31, 2019, comprised of the Redmile Notes (in thousands):



	Three Months Ended March 31, 2019				Nine Months Ended March 31, 2019
	2019		2018		2019			2018
Beginning balance	$	—	$	12,700	$	15,899		$	12,600
Change in fair value	—		100		65			200
Settlement upon maturity	—				(15,964		)	—
Ending balance	$	—	$	12,800	$	—		$	12,800