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Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis The following tables sets forth the fair value of the Company’s financial assets and liabilities at fair value on a recurring basis based on the three-tier fair value hierarchy (in thousands):

 

 

 

December 31, 2018

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

7,180

 

 

$

 

 

$

 

 

$

7,180

 

Reverse repurchase agreements

 

 

 

 

 

6,250

 

 

 

 

 

 

6,250

 

Commercial paper

 

 

 

 

 

53,916

 

 

 

 

 

 

53,916

 

U.S. government securities

 

 

 

 

 

4,112

 

 

 

 

 

 

4,112

 

Total financial assets

 

$

7,180

 

 

$

64,278

 

 

$

 

 

$

71,458

 

 

 

 

December 31, 2017

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

1,674

 

 

$

 

 

$

 

 

$

1,674

 

Reverse repurchase agreements

 

 

 

 

 

7,250

 

 

 

 

 

 

7,250

 

U.S. treasury securities

 

 

1,501

 

 

 

 

 

 

 

 

 

1,501

 

U.S. government securities

 

 

 

 

 

35,981

 

 

 

 

 

 

35,981

 

Total financial assets

 

$

3,175

 

 

$

43,231

 

 

$

 

 

$

46,406