Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2020

Summary of Reconciliation of Numerators and Denominators of Basic and Diluted Net Income (Loss) Per Share of Common Stock Computations

A reconciliation of the numerators and denominators of the basic and diluted net income (loss) per share of common stock computations is as follows (in thousands, except per share amounts):

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2020		2019			2020			2019
Numerator:
Net income (loss)	$	3,395	$	(37,424	)	$	(13,538	)	$	(47,511	)
Denominator:
Weighted average common stock outstanding for basic net income (loss) per share		39,432		38,648			39,362			38,565
Net effect of dilutive common stock equivalents		566		-			-			-
Weighted average common stock outstanding for diluted net income (loss) per share		39,998		38,648			39,362			38,565
Net income (loss) per share of common stock
Basic	$	0.09	$	(0.97	)	$	(0.34	)	$	(1.23	)
Diluted	$	0.08	$	(0.97	)	$	(0.34	)	$	(1.23	)

Assets Measured at Fair Value on Recurring Basis

Following are the major categories of assets measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019, using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3) (in thousands):

June 30, 2020	Level 1		Level 2		Level 3		Total
Cash equivalents	$	76,909	$	—	$	—	$	76,909
Commercial paper		—		10,837		—		10,837
Corporate bonds		—		5,539		—		5,539
Totals	$	76,909	$	16,376	$	—	$	93,285

December 31, 2019	Level 1		Level 2		Level 3		Total
Cash equivalents	$	41,295	$	—	$	—	$	41,295
Corporate bonds		—		41,557		—		41,557
U.S. government securities		10,050		—		—		10,050
Totals	$	51,345	$	41,557	$	—	$	92,902

Summary of Short-term Investments

The following tables summarize the Company’s short-term investments (in thousands):

	Maturity	Amortized		Unrealized				Estimated
June 30, 2020	(in years)	cost		Gains		Losses		fair value
Cash equivalents		$	76,909	$	—	$	—	$	76,909
Commercial paper			10,837		—		—		10,837
Corporate bonds	Less than 1		5,538		1		—		5,539
Totals		$	93,284	$	1	$	—	$	93,285

	Maturity	Amortized		Unrealized				Estimated
December 31, 2019	(in years)	cost		Gains		Losses		fair value
Cash equivalents		$	41,295	$	—	$	—	$	41,295
Corporate bonds	Less than 1		41,507		50		—		41,557
U.S. government securities	Less than 1		10,038		12		—		10,050
Totals		$	92,840	$	62	$	—	$	92,902