Fair Value of Financial Assets and Liabilities

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities

5. Fair Value of Financial Assets and Liabilities

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of March 31, 2021 (in thousands):

	Level 1		Level 2		Level 3		Total
Assets:
Cash Equivalents:
Money market funds	$	63,229	$	-	$	-	$	63,229
Marketable Securities:
Commercial paper		-		22,366		-		22,366
Corporate debt securities		-		28,147		-		28,147
ABS		-		6,886		-		6,886
	$	63,229	$	57,399	$	-	$	120,628
Liabilities:
Derivative liabilities	$	-	$	-	$	803	$	803

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2020 (in thousands):

	Level 1		Level 2		Level 3		Total
Assets:
Cash Equivalents:
Money Market funds	$	84,195	$	-	$	-	$	84,195
	$	84,195	$	-	$	-	$	84,195
Liabilities
Derivative Liabilities	$	-	$	-	$	797	$	797