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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets Measured on Recurring Basis The following tables set forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

 

 

 

Fair Value Measurements at December 31, 2018

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

45,017

 

 

$

45,017

 

 

$

 

 

$

 

U.S. government agency obligations

 

 

103,940

 

 

 

 

 

 

103,940

 

 

 

 

Corporate securities and commercial paper

 

 

110,768

 

 

 

 

 

 

110,768

 

 

 

 

 

 

$

259,725

 

 

$

45,017

 

 

$

214,708

 

 

$

 

 

 

 

Fair Value Measurements at December 31, 2017

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

66,478

 

 

$

66,478

 

 

$

 

 

$

 

U.S. government agency obligations

 

 

57,153

 

 

 

 

 

 

57,153

 

 

 

 

Corporate securities and commercial paper

 

 

52,072

 

 

 

 

 

 

52,072

 

 

 

 

 

 

$

175,703

 

 

$

66,478

 

 

$

109,225

 

 

$

 

Schedule of Investments Classified as Available for Sale Securities with Contractual Maturities

Classified as (with contractual maturities):

 

 

 

December 31, 2018

 

 

December 31, 2017

 

Cash and cash equivalents

 

$

71,064

 

 

$

98,426

 

Short-term investments (due within one year)

 

 

185,480

 

 

 

77,277

 

Long-term investments (due between one and two

   years)

 

 

3,181

 

 

 

 

 

 

$

259,725

 

 

$

175,703

 

Schedule of Available for Sale Securities at Fair Value Measurements

 

 

 

Fair Value Measurements at December 31, 2018

 

 

 

Amortized

Cost

 

 

Unrealized

Gain

 

 

Unrealized

Loss

 

 

Fair

Value

 

Money market funds

 

$

45,017

 

 

$

 

 

$

 

 

$

45,017

 

U.S. government agency obligations

 

 

103,957

 

 

 

 

 

 

(17

)

 

 

103,940

 

Corporate securities and commercial paper

 

 

110,859

 

 

 

 

 

 

(91

)

 

 

110,768

 

 

 

$

259,833

 

 

$

 

 

$

(108

)

 

$

259,725

 

 

 

 

Fair Value Measurements at December 31, 2017

 

 

 

Amortized

Cost

 

 

Unrealized

Gain

 

 

Unrealized

Loss

 

 

Fair

Value

 

Money market funds

 

$

66,478

 

 

$

 

 

$

 

 

$

66,478

 

U.S. government agency obligations

 

 

57,183

 

 

 

 

 

 

(30

)

 

 

57,153

 

Corporate securities and commercial paper

 

 

52,084

 

 

 

 

 

 

(12

)

 

 

52,072

 

 

 

$

175,745

 

 

$

 

 

$

(42

)

 

$

175,703