Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents:
Money market mutual funds	$	221,680	$	-	$	-	$	221,680
		221,680		-		-		221,680
Investments:
United States Treasury securities		74,468		-		-		74,468
Corporate Bonds		-		72,435		-		72,435
Municipal Bonds		-		6,000		-		6,000
Agency Bonds		-		9,319		-		9,319
		74,468		87,754		-		162,222
	$	296,148	$	87,754	$	-	$	383,902

	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