Fair Value (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value [Abstract]

Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2020:

	Quoted Prices in ‎Active Markets for ‎Identical Assets ‎(Level 1)		Significant Other ‎Observable Inputs ‎(Level 2)		Significant Other ‎Unobservable ‎Inputs (Level 3)		Total
Assets:
Money market funds	$	—	$	85,286	$	—	$	85,286
Commercial paper		—		42,373		—		42,373
U.S. government agencies and securities		46,202		—		—		46,202
Corporate bonds		—		48,140		—		48,140
Asset-backed securities		—		22,600		—		22,600
Total assets	$	46,202	$	198,399	$	—	$	244,601
Liabilities:
Contingent consideration		—		—		180,111		180,111
Total liabilities	$	—	$	—	$	180,111	$	180,111

There were no changes in the levels or methodology of measurement of financial assets and liabilities during the three and six months ended June 30, 2020.

The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2019:

	Quoted Prices in ‎Active Markets for ‎Identical Assets ‎(Level 1)		Significant Other ‎Observable Inputs ‎(Level 2)		Significant Other ‎Unobservable ‎Inputs (Level 3)		Total
Assets:
Money market funds	$	—	$	14,502	$	—	$	14,502
Repurchase agreements		—		10,000		—		10,000
Commercial paper		—		13,755		—		13,755
U.S. government agencies and securities		8,539		—		—		8,539
Corporate bonds		—		24,852		—		24,852
Asset-backed securities		—		18,847		—		18,847
Total assets	$	8,539	$	81,956	$	—	$	90,495
Liabilities:
Contingent consideration		—		—		185,157		185,157
Total liabilities	$	—	$	—	$	185,157	$	185,157

Level 3 Fair Value Measurements Using Significant Other Unobservable Inputs For Derivative Instruments

							Weighted average
	Fair Value		Valuation Technique	Unobservable Input	Range		by relative fair value
				Discount rate	5.56	%	5.56	%
Regulatory & Commercialization-based milestones	$	180,111	Probability-weighted scenario approach	Projected month and year of payment	October 2020 - September 2025		n/a
				Probability of payment	40.00 - 85.00	%	81.34	%

Level 3 Fair Value Measurements Using Significant Other Unobservable Inputs For Acquisition-Related Contingent Consideration

The following table represents the Company’s Level 3 fair value measurements using significant other unobservable inputs for acquisition-related contingent consideration:

	Six Months Ended		Twelve Months Ended
	June 30, 2020		December 31, 2019
Beginning Balance	$	185,157	$	18,773
Amounts acquired		—		171,300
Changes in fair value included in earnings		(5,046)		(4,916)
Ending Balance	$	180,111	$	185,157