Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2019

Cash And Cash Equivalents [Abstract]

Cash and Cash Equivalents

3. CASH AND CASH EQUIVALENTS

From time to time, the Company may have cash balances in financial institutions in excess of federal deposit insurance limits. The Company has never experienced any losses related to these balances. The Company considers only those investments that are highly liquid, readily convertible to cash, and that mature within three months from date of purchase to be cash equivalents.

The following table summarizes the Company’s cash and cash equivalents:

	December 31,
	2019		2018
	(in thousands)
Cash	$	250	$	471
U.S. Treasury securities		—		35
Commercial paper		—		5,974
Repurchase agreements		14,000		—
Money market funds		39,524		31,740
Total cash and cash equivalents	$	53,774	$	38,220