Marketable Securities

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Available-for-sale marketable securities and cash and cash equivalents consist of the following (in thousands):



	December 31, 2019
	Amortized Cost Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Cash and cash equivalents:
Cash	$	34,726	$	—	$	—		$	34,726
Money market	35,160		—		—			35,160
Domestic corporate commercial paper	—		—		—			—
Total	$	69,886	$	—	$	—		$	69,886
Marketable securities:
Domestic corporate debt securities	$	41,229	$	3	$	(3	)	$	41,229
Domestic corporate commercial paper	24,900		5		—			24,905
Agency bonds	12,391		1		(3		)	12,389
US treasury bonds	12,492		—		—			12,492
Total	$	91,012	$	9	$	(6	)	$	91,015



	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	38,873		—		—			38,873
Domestic corporate commercial paper	—		—		—			—
Total	$	59,321	$	—	$	—		$	59,321
Marketable securities:
Domestic corporate debt securities	$	132,886	$	—	$	(530	)	$	132,356
Domestic corporate commercial paper	—		—		—			—
Agency bonds	45,009		—		(225		)	44,784
Total	$	177,895	$	—	$	(755	)	$	177,140

There were no securities in a loss position for more than 12 months at December 31, 2019 and 2018. There were eight debt securities in an unrealized loss position for less than 12 months at December 31, 2019 and there was one debt security that had been in an unrealized loss position for less than 12 months at December 31, 2018. The aggregate unrealized loss on these securities as of December 31, 2019 and 2018 was approximately $6.0 thousand and $0.8 million, respectively, and the fair value was $42.5 million and $177.1 million, respectively. The aggregate unrealized gain on these securities as of December 31, 2019 and 2018 was approximately $9.0 thousand and $0.0, respectively, and the fair value was $48.5 million and $0.0, respectively. The Company considered the decline 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 maturity, the Company did not consider these investments to be other-than-temporarily impaired as of December 31, 2019 and 2018.

As of December 31, 2019, all marketable securities, which had an aggregate fair value of $91.0 million, are maturing within one year.