Fair Value of Financial Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value of Financial Assets and Liabilities

Schedule of assets and liabilities measured at fair value on a recurring basis

	June 30, 2022
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	63,838	$	—	$	—	$	63,838
Marketable securities		—		187,560		—		187,560
Total assets	$	63,838	$	187,560	$	—	$	251,398
Liabilities:
Contingent consideration	$	—	$	—	$	23,800	$	23,800
Total liabilities	$	—	$	—	$	23,800	$	23,800

	December 31, 2021
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	21,678	$	—	$	—	$	21,678
Marketable securities		—		198,307		—		198,307
Total assets	$	21,678	$	198,307	$	—	$	219,985
Liabilities:
Contingent consideration	$	—	$	—	$	28,400	$	28,400
Total liabilities	$	—	$	—	$	28,400	$	28,400

Schedule of the fair value of available for sale marketable securities

	June 30, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gain		Loss		Value
Marketable securities:
Corporate debt securities	$	47,201	$	—	$	(398)	$	46,803
Commercial paper		56,053		—		—		56,053
Asset-backed debt securities(1)		28,423		—		(175)		28,248
U.S. government agency debt securities		57,211		—		(755)		56,456
Total marketable securities	$	188,888	$	—	$	(1,328)	$	187,560
(1) Included in Asset-backed debt securities is $7.2 million with maturity dates between one and five years.

	December 31, 2021
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gain		Loss		Value
Marketable securities:
Corporate debt securities(1)	$	40,993	$	6	$	(50)	$	40,949
Commercial paper		71,837		—		—		71,837
Asset-backed debt securities		36,166		—		(43)		36,123
Foreign government agency debt securities		4,073		—		(13)		4,060
U.S. government agency debt securities(2)		45,465		—		(127)		45,338
Total marketable securities	$	198,534	$	6	$	(233)	$	198,307
(1) Included in Corporate debt securities is $9.2 million with maturity dates between one and five years.
(2) Included in US government agency debt securities is $25.0 million with maturity dates between one and five years.