Fair Value Measurement and Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured and Recognized at Fair Value

As of December 31, 2020, financial assets measured and recognized at fair value are as follows (in thousands):

		December 31, 2020
		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Assets
U.S. government securities	Level 1	$	80,020	$	10	$	—		$	80,030
Corporate bonds	Level 2		72,573		11		(14	)		72,570
Commercial paper	Level 2		63,948		—		—			63,948
Marketable securities			216,541		21		(14	)		216,548
Money market funds(1)	Level 1		67,065		—		—			67,065
Total fair value of assets		$	283,606	$	21	$	(14	)	$	283,613

(1) Included in cash and cash equivalents on the balance sheet

As of December 31, 2019, financial assets measured and recognized at fair value are as follows (in thousands):

		December 31, 2019
		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Assets
U.S. government securities	Level 1	$	24,973	$	32	$	—		$	25,005
Corporate bonds	Level 2		39,185		37		(4	)		39,218
Commercial paper	Level 2		2,192		—		—			2,192
Marketable securities			66,350		69		(4	)		66,415
Money market funds(1)	Level 1		34,008		—		—			34,008
Total fair value of assets		$	100,358	$	69	$	(4	)	$	100,423

(1) Included in cash and cash equivalents on the balance sheet