Cash and Cash Equivalents and Short-Term Investments

12 Months Ended

Dec. 31, 2019

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents, and Marketable Securities

Cash and Cash Equivalents and Short-Term Investments

The following tables summarize the amortized cost, unrealized gain and loss and estimated fair value of cash equivalents and short-term investments:

	December 31, 2019
(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
Cash equivalents:
Money market funds	$	13,588	$	—	$	—		$	13,588
Commercial paper	8,987		—		—			8,987
Total cash equivalents	$	22,575	$	—	$	—		$	22,575
Short-term investments:
Commercial paper	$	61,371	$	—	$	—		$	61,371
Corporate bonds	23,856		14		(1		)	23,869
U.S. Treasury and agency obligations	52,627		38		(1		)	52,664
Total short-term investments	$	137,854	$	52	$	(2	)	$	137,904

	December 31, 2018
(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value
Cash equivalents:
Money market funds	$	38,022	$	—	$	—	$	38,022
Total cash equivalents	$	38,022	$	—	$	—	$	38,022
Short-term investments:
Commercial paper	$	79,634	$	—	$	—	$	79,634
Corporate bonds	16,119		—		—		16,119
U.S. Treasury and agency obligations	22,366		—		—		22,366
Total short-term investments	$	118,119	$	—	$	—	$	118,119

For any investments that were in an unrealized loss position, we considered if we intended on selling the investments before maturity and if it is more-likely-than-not that we would have to sell the security before the recovery of the amortized cost basis. We concluded that there were no other-than-temporary impairments at December 31, 2019.

At December 31, 2019, all of our short-term investments had maturities within the next twelve months.