Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Instruments Measured on Recurring Basis

Items measured at fair value on a recurring basis are the Company’s investments. The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy:

	Fair Value Measurements as of March 31, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents:
Money market mutual funds	$	235,899	$	-	$	-	$	235,899
		235,899		-		-		235,899
Investments:
United States Treasury securities		107,566		-		-		107,566
Corporate Bonds		-		100,247		-		100,247
Municipal Bonds		-		6,000		-		6,000
		107,566		106,247		-		213,813
	$	343,465	$	106,247	$	-	$	449,712

	Fair Value Measurements as of December 31, 2020 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents:
Money market mutual funds	$	193,312	$	-	$	-	$	193,312
United States Treasury securities		62,497		-		-		62,497
Corporate Bonds		-		501		-		501
Agency Bonds		-		8,015		-		8,015
		255,809		8,516		-		264,325
Investments:
United States Treasury securities		112,328		-		-		112,328
Corporate Bonds		-		63,710		-		63,710
Municipal Bonds		-		6,000		-		6,000
Agency Bonds		-		3,583		-		3,583
		112,328		73,293		-		185,621
	$	368,137	$	81,809	$	-	$	449,946