Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Assets and Liabilities

Financial assets and liabilities measured and recognized at fair value are as follows (in thousands):

	June 30, 2020
	Total		Level 1		Level 2		Level 3
Assets:
Money market funds	$	174,821	$	174,821	$	—	$	—
Total financial assets	$	174,821	$	174,821	$	—	$	—
Liabilities:
Embedded derivative	$	1,124	$	—	$	—	$	1,124
Total financial liabilities	$	1,124	$	—	$	—	$	1,124

	December 31, 2019
	Total		Level 1		Level 2		Level 3
Assets:
Money market funds	$	191,157	$	191,157	$	—	$	—
Total financial assets	$	191,157	$	191,157	$	—	$	—
Liabilities:
Embedded derivative	$	1,165	$	—	$	—	$	1,165
Total financial liabilities	$	1,165	$	—	$	—	$	1,165

Schedule of Embedded Derivative in Loan Payable

The following table sets forth a summary of the changes in the fair value of the Company’s embedded derivative liability in the loan payable for the three and six months ended June 30, 2020 (in thousands):

Derivative instrument:
Beginning balance - December 31, 2019	$	1,165
Change in fair value upon revaluation recognized in other income    (expense), net		(62	)
Balance March 31, 2020		1,103
Change in fair value upon revaluation recognized in other income    (expense), net		21
Ending balance - June 30, 2020	$	1,124

Schedule of Quantitative Information About Level 3 Fair Value Measurements

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value Estimate		Valuation Technique	Unobservable Input	Range of probability
Dollars in thousands
June 30, 2020	$	1,124	Appraisal	Appraisal adjustments	0%-75%
December 31, 2019	$	1,165	Appraisal	Appraisal adjustments	0%-75%