Fair Value of Financial Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis (in thousands):

	Fair Value Measurements as of June 30, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	—	$	167,938	$	—	$	167,938
U.S. treasuries		—		359,871		—		359,871
U.S. government agency bonds		—		57,856		—		57,856
	$	—	$	585,665	$	—	$	585,665
Liabilities:
Contingent consideration	$	—	$	—	$	112,493	$	112,493
	$	—	$	—	$	112,493	$	112,493

	Fair Value Measurements as of December 31, 2020 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	—	$	273,827	$	—	$	273,827
U.S. treasuries		—		292,001		—		292,001
U.S. government agency bonds		—		20,000		—		20,000
	$	—	$	585,828	$	—	$	585,828
Liabilities:
Contingent consideration	$	—	$	—	$	152,230	$	152,230
	$	—	$	—	$	152,230	$	152,230

Summary Of Estimated Amortized Costs And Fair Value Of The Debt Securities Available For Sale And Held To Maturity

	June 30, 2021				December 31, 2020
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	305,053	$	305,095	$	201,606	$	201,596
Due after one year through two years		112,639		112,632		110,395		110,405
Total available-for-sale securities	$	417,692	$	417,727	$	312,001	$	312,001

Schedule of Unobservable Inputs and Fair Value Components of Contingent Consideration

The following table presents the unobservable inputs and fair value of the components of the contingent consideration (dollar amounts in thousands):

	Unobservable Inputs		Fair Value at
	Projected Year of Payment		June 30,		December 31,
			2021		2020
Earnout payments		2027 - 2039	$	103,093	$	142,250
Milestone payments		2027 - 2031		9,400		9,980
			$	112,493	$	152,230

Schedule of Total Acquisition Related Contingent Consideration Liability

The following table presents a roll-forward of the total acquisition-related contingent consideration liability (in thousands):

	Fair Value
Balance as of December 31, 2020	$	152,230
Decrease in fair value of contingent consideration		(39,737	)
Balance as of June 30, 2021	$	112,493