Fair Value of Financial Insturments (Tables)

9 Months Ended

Sep. 30, 2020

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The Company’s assets that are measured at fair value on a recurring basis, by level, within the fair value hierarchy as of September 30, 2020 and December 31, 2019, are summarized as follows (in thousands):


	September 30, 2020								December 31, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	6,702	$	—			$	6,702	$	4,086	$	—	$	—	$	4,086

Commercial paper	—		7,497				7,497		—		12,854		—		12,854
U.S. government agency securities	—		—				—		—		3,000		—		3,000


Corporate debt securities	—		172,498				172,498		—		188,310		—		188,310
Total assets measured at fair value	$	6,702	$	179,995	$	—	$	186,697	$	4,086	$	204,164	$	—	$	208,250
Liabilities
Contingent consideration	$	—	$	—	$	2,170	2,170		$	—	$	—	$	—	$	—
Total liabilities measured at fair value	$	—	$	—	$	2,170	$	2,170	$	—	$	—	$	—	$	—