Marketable Securities

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

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



	September 30, 2019
	Amortized Cost Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Cash and cash equivalents:
Cash	$	42,616	$	—	$	—		$	42,616
Money market funds	46,309		—		—			46,309
Total	$	88,925	$	—	$	—		$	88,925

Marketable securities:
Domestic corporate debt securities	$	47,271	$	19	$	(1	)	$	47,289
Domestic corporate commercial paper	16,945		4		—			16,949
Agency bonds	15,013		—		—			15,013
Total	$	79,229	$	23	$	(1	)	$	79,251



	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 5 marketable securities with an aggregate fair value of $27.0 million in an unrealized loss position for more than 12 months as of September 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 September 30, 2019.

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