Marketable Securities

6 Months Ended

Jun. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable Securities

Available-for-sale marketable securities and cash and cash equivalents as of June 30, 2019 and December 31, 2018 consist of the following (in thousands):

	June 30, 2019
	Amortized Cost Value		Gross  Unrealized  Gains		Gross  Unrealized  Losses			Fair Value
Cash and cash equivalents:
Cash	$	63,660	$	—	$	—		$	63,660
Money market funds	3,241		—		—			3,241
Total	$	66,901	$	—	$	—		$	66,901
Marketable securities:
Domestic corporate debt securities	$	74,752	$	—	$	(9	)	$	74,743
Domestic corporate commercial paper	16,841		—		(11		)	16,830
Agency bonds	30,028		—		(25		)	30,003
Total	$	121,621	$	—	$	(45	)	$	121,576

 

	December 31, 2018
	Amortized Cost Value		Gross  Unrealized  Gains		Gross  Unrealized  Losses			Fair Value
Cash and cash equivalents:
Cash	$	20,448	$	—	$	—		$	20,448
Money market funds	38,873		—		—			38,873
Total	$	59,321	$	—	$	—		$	59,321
Marketable securities:
Domestic corporate debt securities	$	132,886	$	—	$	(530	)	$	132,356
Agency bonds	45,009		—		(225		)	44,784
Total	$	177,895	$	—	$	(755	)	$	177,140

There were 14 marketable securities with an aggregate fair value of $121.6 million in an unrealized loss position for more than 12 months as of June 30, 2019. There were 24 marketable securities with an aggregate fair value of $177.1 million in an unrealized loss position for more than 12 months as of December 31, 2018. The Company considered the decrease in market value for these securities to be primarily attributable to current economic conditions. As it was not more likely than not that the Company would be required to sell these securities before the recovery of their amortized cost basis, which may be at maturity, the Company did not consider these investments to be other-than-temporarily impaired as of June 30, 2019.

As of June 30, 2019, all marketable securities mature within one year.