Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of the Company's financial assets and financial liabilities measured at fair value on a recurring basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands):


			At March 31, 2020
			Quoted prices		Significant
			in active		other		Significant
			markets for		observable		unobservable
	March 31,		identical assets		inputs		inputs
	2020		(Level 1)		(Level 2)		(Level 3)
Assets
Money market funds ⁽ⁱ⁾	$	3,975	$	3,975	$	-	$	-
U.S. government agency bonds ⁽ⁱⁱ⁾		1,503		-		1,503		-
Bank certificates of deposit ^{(ii) (iii)}		13,909		-		13,909		-
Commercial paper ⁽ⁱⁱ⁾		8,961		-		8,961		-
Corporate notes ⁽ⁱⁱ⁾		63,573		-		63,573		-
Asset-backed securities ⁽ⁱⁱ⁾		23,650		-		23,650		-
Total Assets	$	115,571	$	3,975	$	111,596	$	-
Liabilities
Cash-settled stock options	$	2,165	$	-	$	2,165	$	-
Total liabilities	$	2,165	$	-	$	2,165	$	-


			At December 31, 2019
			Quoted prices		Significant
			in active		other		Significant
			markets for		observable		unobservable
	December 31,		identical assets		inputs		inputs
	2019		(Level 1)		(Level 2)		(Level 3)
Assets
Money market funds ⁽ⁱ⁾	$	2,530	$	2,530	$	-	$	-
Bank certificates of deposit ^{(ii) (iv)}		14,208		-		14,208		-
Commercial paper ⁽ⁱⁱ⁾		7,484		-		7,484		-
Corporate notes ⁽ⁱⁱ⁾		65,638		-		65,638		-
Asset-backed securities ⁽ⁱⁱ⁾		25,424		-		25,424		-
Total Assets	$	115,284	$	2,530	$	112,754	$	-
Liabilities
Cash-settled stock options	$	6,685		-		6,685		-
Total liabilities	$	6,685	$	-	$	6,685	$	-

(i)	Included in cash and cash equivalents with a maturity of three months or less from date of purchase on the condensed consolidated balance sheets.

(ii)	Included in short-term investments on the condensed consolidated balance sheets.

(iii)

As of March 31, 2020, a bank certificate of deposit investment totaling $1,500 (in thousands) is included in cash and cash equivalents on the condensed consolidated balance sheets, as the investment has a maturity of three months or less from the date of purchase on the condensed consolidated balance sheets.

(iv)

As of December 31, 2019, a bank certificate of deposit totaling $1,201 (in thousands) is included in cash and cash equivalents on the condensed consolidated balance sheets, as the investment has a maturity of three months or less from the date of purchase on the condensed consolidated balance sheets.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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