Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables summarize the assets measured at fair value on a recurring basis (in thousands):

	March 31, 2022
	Total		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents:
Cash	$	11,279	$	11,279	$	—	$	—
Money market funds	293,417		293,417		—		—
Total cash and cash equivalents	304,696		304,696		—		—
Short-term investments:
U.S. Treasury bills	263,909		263,909		—		—
Corporate debt securities	190,091		—		190,091		—
Commercial paper	546,784		—		546,784		—
U.S. Agency bonds	20,994		—		20,994		—
Total short-term investments	1,021,778		263,909		757,869		—
Long-term investment:
ORIC Pharmaceuticals, Inc.	3,141		3,141		—		—
Total	$	1,329,615	$	571,746	$	757,869	$	—

	December 31, 2021
	Total		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents:
Cash	$	19,347	$	19,347	$	—	$	—
Money market funds	393,736		393,736		—		—
Total cash and cash equivalents	413,083		413,083		—		—
Short-term investments:
U.S. Treasury bills	162,228		162,228		—		—
Corporate debt securities	235,958		—		235,958		—
Commercial paper	621,979		—		621,979		—
U.S. Agency bonds	58,092		—		58,092		—
Total short-term investments	1,078,257		162,228		916,029		—
Long-term investment:
ORIC Pharmaceuticals, Inc.	8,218		—		—		8,218
Total	$	1,499,558	$	575,311	$	916,029	$	8,218

Schedule of Changes in Estimated Fair Value of Assets with Unobservable Inputs

	March 31, 2022
Fair value of Level 3 investment - December 31, 2021	$	8,218
Change in fair value	(5,077)
Transfer out of Level 3 to Level 1	(3,141)
Fair value of Level 3 investment - March 31, 2022	$	—