Investments (Tables)

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Summary of amortized cost and gross unrealized losses on all securities

The following table presents the amortized cost and gross unrealized losses on all securities at September 30, 2019:

	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
	(in thousands)
Short-term investments:
U.S. Treasury securities	$	14,604	$		$			$	14,604
Common stock		735		294		(205	)	$	824
Total short-term investments	$	15,339	$	294	$	(205	)	$	15,428

The following table presents the amortized cost and gross unrealized losses on all securities at December 31, 2018:

	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
	(in thousands)
Short-term investments:
U.S. Treasury securities	$	14,357		—		(1	)		14,356
Total short-term investments	$	14,357	$	—	$	(1	)	$	14,356

Summary of financial assets measured at fair value on a recurring basis

The following table summarizes the Company's financial assets measured at fair value on a recurring basis as of September 30, 2019:

	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	4,135	$	—	$	—	$	4,135
Investments:
Available-for-sale securities — current:
U.S. Treasury securities		—		14,604		—		14,604
Common stock		824		—		—		824
Total	$	4,959	$	14,604	$	—	$	19,563

The following table summarizes the Company's financial assets measured at fair value on a recurring basis as of December 31, 2018:

	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	2,821	$	—	$	—	$	2,821
Investments:
Available-for-sale securities — current:
U.S. Treasury securities		—		14,356		—		14,356
Total	$	2,821	$	14,356	$	—	$	17,177