Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Financial Liabilities Measured at Fair Value on a Recurring Basis

The following tables set forth the fair value of the Company’s financial assets measured at fair value on a recurring basis based on the three-tier fair value hierarchy (in thousands):


	September 30, 2020
	Level I		Level II		Level III		Total

Cash equivalents—money market funds	$	73,457	$	—	$	—	$	73,457

Marketable securities
Commercial paper	—		47,947		—		47,947
Treasury bills	4,497		—		—		4,497
U.S. government securities	14,607		—		—		14,607
Total financial assets	$	92,561	$	47,947	$	—	$	140,508


	December 31, 2019
	Level I		Level II		Level III		Total
Cash equivalents—money market funds	$	35,286	$	—	$	—	$	35,286
Marketable securities
Commercial paper	—		50,794		—		50,794
U.S. government securities	34,687		—		—		34,687
Total financial assets	$	69,973	$	50,794	$	—	$	120,767