Marketable Securities

3 Months Ended

Mar. 31, 2021

Investments Debt And Equity Securities [Abstract]

Marketable Securities

4. Marketable Securities

As of March 31, 2021, and December 31, 2020, the fair value of available-for-sale marketable securities by type of security was as follows:

	March 31, 2021
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial paper	$	8,893	$	—	$	—		$	8,893
Corporate bonds		46,690		1		(11	)	$	46,680
	$	55,583	$	1	$	(11	)	$	55,573

	December 31, 2020
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial paper	$	6,890	$	—	$	—		$	6,890
U.S. government obligations		9,997		1		—			9,998
Corporate bonds		50,700		2		(14	)		50,688
	$	67,587	$	3	$	(14	)	$	67,576

As of March 31, 2021, and December 31, 2020, marketable securities consisted of $55.6 million and $67.6 million, respectively, of investments that mature within 12 months. There were no investments with maturities greater than 12 months as of March 31, 2021, and December 31, 2020. The Company assesses its available-for-sale marketable securities for impairment on a quarterly basis in accordance with ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. There were no material impairments of the Company’s available-for-sale marketable securities measured and carried at fair value during the three months ended March 31, 2021.