Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Measurements

Schedule of assets measured at fair value on a recurring basis

Assets measured at fair value on a recurring basis as of June 30, 2020 were as follows (in thousands):

			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
	June 30,		Identical Assets		Inputs		Inputs
Financial Assets	2020		(Level 1)		(Level 2)		(Level 3)
Cash equivalents:
Money market funds	$	485,819	$	485,819	$	—	$	—
Marketable securities:
U.S. Treasuries		26,997		26,997		—		—
Government agency securities		67,712		67,712		—		—
Corporate equity securities		18,192		—		18,192		—
Restricted cash and other non-current assets:
Money market funds		3,877		3,877		—		—
Total financial assets	$	602,597	$	584,405	$	18,192	$	—

Assets measured at fair value on a recurring basis as of December 31, 2019 were as follows (in thousands):

			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
	December 31,		Identical Assets		Inputs		Inputs
Financial Assets	2019		(Level 1)		(Level 2)		(Level 3)
Cash equivalents:
Money market funds	$	230,201	$	230,201	$	—	$	—
U.S. Treasuries		7,982		7,982		—		—
Marketable securities:
U.S. Treasuries		63,386		63,386		—		—
Government agency securities		155,571		155,571		—		—
Restricted cash and other non-current assets:
Corporate equity securities		3,667		—		3,667		—
Money market funds		1,619		1,619		—		—
Total financial assets	$	462,426	$	458,759	$	3,667	$	—