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Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of assets and liabilities measured at fair value on a recurring basis
The following tables sets forth by level within the fair value hierarchy our assets that are measured on a recurring basis and reported at fair value as of June 30, 2020 and December 31, 2019. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
Fair Value Measurements as of
June 30, 2020
Estimated
Fair Value
Level 1Level 2Level 3
Cash equivalents:
Money market funds$209,830  $209,830  $—  $—  
Total cash equivalents209,830  209,830  —  —  
Investments:
Asset-backed securities$6,112  $—  $6,112  $—  
U.S. government securities25,210  25,210  —  —  
Total investments31,322  25,210  6,112  —  
Total cash equivalents and investments$241,152  $235,040  $6,112  $—  
Fair Value Measurements as of
December 31, 2019
Estimated
Fair Value
Level 1Level 2Level 3
Cash equivalents:
Money market funds$18,429  $18,429  $—  $—  
Total cash equivalents18,429  18,429  —  —  
Investments:
Commercial paper$14,214  $—  $14,214  $—  
Corporate bonds32,485  —  32,485  —  
Asset-backed securities8,100  —  8,100  —  
U.S. government securities78,082  78,082  —  —  
Total investments132,881  78,082  54,799  —  
Total cash equivalents and investments$151,310  $96,511  $54,799  $—  
Schedule of inventory
Inventories are valued at the lower of cost or net realizable value, computed on a first-in, first-out basis and consisted of the following:
June 30, 2020December 31, 2019
Raw materials$1,070  $781  
Finished goods8,896  5,053  
Total inventories, net of reserves$9,966  $5,834  
Schedule of property and equipment
Property and equipment are stated at cost, less accumulated depreciation and amortization and consisted of the following:
June 30, 2020December 31, 2019
Computer equipment and software$1,306  $790  
Manufacturing equipment1,319  1,050  
Other equipment96  68  
Leasehold improvements192  192  
Construction in process1,774  1,950  
Property and equipment, cost4,687  4,050  
Less: accumulated depreciation and amortization(1,380) (1,005) 
Property and equipment, net$3,307  $3,045  
Schedule of accrued expenses
Accrued expenses consisted of the following:
June 30, 2020December 31, 2019
Payroll related$6,968  $10,304  
Interest155  160  
Current operating lease liability338  828  
Other accrued expenses478  1,105  
Total accrued expenses$7,939  $12,397