Investments In Marketable Securities

6 Months Ended

Jun. 30, 2019

Investments Debt And Equity Securities [Abstract]

5. Investments in Marketable Securities

The Company’s investment policy defines allowable investment securities and establishes guidelines relating to credit quality, diversification, and maturities of its investments to preserve principal and maintain liquidity. In accordance with the Company’s investment policy, it has invested funds in marketable securities at June 30, 2019. The Company had no investments in marketable securities at December 31, 2018.

The cost, gross unrealized holding gains, gross unrealized holding losses and fair value of available-for-sale investments by types and classes of security at June 30, 2019 consisted of the following (in thousands):

		June 30, 2019
	Maturity (in years)	Amortized Cost Basis		Other-than- temporary Impairments		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Fair Value
Commercial paper	1 year or less	$	97,704	$	—	$	155	$	—	$	97,859
Corporate debt securities	1 year or less		34,712		—		68		—		34,780
Government-sponsored enterprise securities	1 year or less		9,000		—		5		—		9,005
Total available-for-sale securities		$	141,416	$	—	$	228	$	—	$	141,644

The Company reviews its investments to identify and evaluate investments that have an indication of possible other-than-temporary impairment. Factors considered in determining whether a loss is other-than-temporary include the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. At June 30, 2019, there were no securities in unrealized loss positions.