Investments in marketable securities (Notes)

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Investments in marketable securities consisted of the following:



	Amortized Cost		Gross Unrealized Gain⁽¹⁾		Gross Unrealized Loss⁽¹⁾		Fair Value
As of March 31, 2020	(in thousands)
Cash equivalents
Money market fund	$	4,961	$	—	$	—	$	4,961
US government agency bonds	—		—		—		—
US treasury bills	—		—		—		—
Total	$	4,961	$	—	$	—	$	4,961
Investments in marketable securities
US government agency bonds	$	25,214	$	88	$	—	$	25,302
US treasury bills	9,974		24		—		9,998
US government bonds	26,249		141		—		26,390
Total	$	61,437	$	253	$	—	$	61,690

⁽¹⁾Gross unrealized gain (loss) is pre-tax and is reported in other comprehensive loss.



	Amortized Cost		Gross Unrealized Gain⁽¹⁾		Gross Unrealized Loss⁽¹⁾			Fair Value
As of December 31, 2019	(in thousands)
Cash equivalents
Money market fund	$	4,106	$	—	$	—		$	4,106
US government agency bonds	1,511		—		—			1,511
US treasury bills	1,499		—		—			1,499
Total	$	7,116	$	—	$	—		$	7,116
Investments in marketable securities
US government agency bonds	$	19,863	$	2	$	(1	)	$	19,864
US treasury bills	15,926		2		(1		)	15,927
US government bonds	23,246		—		(2		)	23,244
Total	$	59,035	$	4	$	(4	)	$	59,035

⁽¹⁾Gross unrealized gain (loss) is pre-tax and is reported in other comprehensive loss.

The contractual term to maturity of the $58.5 million of short-term marketable securities held by the Company as of March 31, 2020 is less than one year. As of March 31, 2020, the Company held $3.2 million of long-term marketable securities with contractual maturities of more than one year, but less than five years. As of December 31, 2019, the Company’s $59.0 million of marketable securities had contractual maturities of less than one year

There were no realized gains or losses for the three months ended March 31, 2020 or 2019.