Fair Value Measurements and Marketable Securities Available-for-Sale (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures And Available For Sale Securities [Abstract]

Schedule of Marketable securities Measured at Fair Value on Recurring Basis

There have not been any transfers between the levels during the periods.

	March 31, 2022
	Total		Level 1		Level 2		Level 3
	(In thousands)
Financial assets:
Cash equivalents:
Money market funds	$	39,188	$	39,188	$	—	$	—
Commercial paper		5,996		—		5,996		—
U.S. government securities		5,998		—		5,998		—
		51,182		39,188		11,994		—
Marketable securities:
Certificate of deposits		8,304		—		8,304		—
Commercial paper		34,543		—		34,543		—
U.S. government and government agency securities		292,678		—		292,678		—
Corporate bonds		285,704		—		285,704		—
Municipal bonds		10,267		—		10,267		—
		631,496		—		631,496		—
Total financial assets:	$	682,678	$	39,188	$	643,490	$	—
Financial liabilities:
Warrants	$	4,713	$	4,542	$	—	$	171

	December 31, 2021
	Total		Level 1		Level 2		Level 3
	(In thousands)
Financial assets:
Cash equivalents:
Money market funds	$	53,292	$	53,292	$	—	$	—
Commercial paper		30,845		—		30,845		—
Corporate bonds		571		—		571		—
		84,708		53,292		31,416		—
Marketable securities:
Certificate of deposits		3,000		—		3,000		—
Commercial paper		16,892		—		16,892		—
U.S. government and government agency securities		267,267		—		267,267		—
Corporate bonds		320,192		—		320,192		—
Municipal bonds		10,821		—		10,821		—
Exchange traded fund		14,797		14,797		—		—
		632,969		14,797		618,172		—
Total financial assets:	$	717,677	$	68,089	$	649,588	$	—
Financial liabilities:
Warrants	$	11,037	$	10,631	$	—	$	406

Schedule of Cost, Aggregate Fair Value and Unrealized Gains of Marketable Securities Available-for-sale

The following table provides the amortized cost, aggregate fair value, and unrealized gains (losses) of marketable securities as of March 31, 2022 and December 31, 2021:

	March 31, 2022
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
	(In thousands)
Cash equivalents:
Money market funds	$	39,188	$	—	$	—		$	39,188
Commercial paper		5,994		2		—			5,996
U.S. government securities		5,997		1		—			5,998
		51,179		3		—			51,182
Marketable securities:
Certificate of deposits		8,338		2		(36	)		8,304
Commercial paper		34,674		—		(131	)		34,543
U.S. government and government agency securities		295,251		56		(2,629	)		292,678
Corporate bonds		289,115		21		(3,432	)		285,704
Municipal bonds		10,338		—		(71	)		10,267
		637,716		79		(6,299	)		631,496
	$	688,895	$	82	$	(6,299	)	$	682,678

	December 31, 2021
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
	(In thousands)
Cash equivalents:
Money market funds	$	53,292	$	—	$	—		$	53,292
Commercial paper		30,845		—		—			30,845
Corporate bonds		571		—		—			571
		84,708		—		—			84,708
Marketable securities:
Certificate of deposits		3,000		—		—			3,000
Commercial paper		16,889		3		—			16,892
U.S. government and government agency securities		267,792		213		(738	)		267,267
Corporate bonds		320,827		147		(782	)		320,192
Municipal bonds		10,849		—		(28	)		10,821
Exchange traded fund		14,963		—		(166	)		14,797
		634,320		363		(1,714	)		632,969
	$	719,028	$	363	$	(1,714	)	$	717,677

Schedule of Net Realized Gain (Loss) on Marketable Securities

For the three months ended March 31, 2022 and 2021, the activity related to the net gains (losses) on marketable securities included in other income (expense) on the consolidated statements of operations and comprehensive loss were as follows (in thousands):

	Three months ended March 31,
	2022			2021
Net realized gains (losses) on available-for-sale securities were as follows:
Realized gains from sales of available-for-sale securities	$	7		$	45
Realized losses from sales of available-for-sale securities		(50	)		—
		(43	)		45
Net recognized gains (losses) on equity securities were as follows:
Net realized losses on equities sold		(337	)		—
Net unrealized gains on equities		166			—
		(171	)		—
Total (losses) gains on marketable securities	$	(214	)	$	45

Schedule of Marketable Securities with Continuous Unrealized Losses

The following tables provide marketable securities with continuous unrealized losses for less than 12 months and 12 months or greater and the related fair values as of March 31, 2022 and December 31, 2021 were as follows:

	March 31, 2022
	Less than 12 Months					12 Months or Greater					Total		Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(In thousands)
Certificate of deposits	$	6,919	$	(36	)	$	—	$	—		$	6,919	$	(36	)
Commercial paper		30,468		(131	)		—		—			30,468		(131	)
U.S. government and government agency securities		191,918		(2,205	)		12,082		(424	)		204,000		(2,629	)
Corporate bonds		270,415		(3,316	)		4,552		(116	)		274,967		(3,432	)
Municipal bonds		10,267		(71	)		—		—			10,267		(71	)
	$	509,987	$	(5,759	)	$	16,634	$	(540	)	$	526,621	$	(6,299	)

	December 31, 2021
	Less than 12 Months					12 Months or Greater				Total		Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
Certificate of deposits	$	—	$	—		$	—	$	—	$	—	$	—
Commercial paper		—		—			—		—		—		—
U.S. government and government agency securities		218,106		(738	)		—		—		218,106		(738	)
Corporate bonds		201,481		(782	)		—		—		201,481		(782	)
Municipal bonds		10,821		(28	)		—		—		10,821		(28	)
Exchanged traded funds		14,798		(166	)		—		—		14,798		(166	)
	$	445,206	$	(1,714	)	$	—	$	—	$	445,206	$	(1,714	)

Schedule Of Available for sale Securities Maturity On Fair Value

Maturity information based on fair value is as follows as of March 31, 2022:

	Within one year		After one year through five years		Total
	(In thousands)
Certificate of deposits	$	8,304	$	—	$	8,304
Commercial paper		34,543		—		34,543
U.S. government and government agency securities		221,518		71,160		292,678
Corporate bonds		200,785		84,919		285,704
Municipal bonds		9,290		977		10,267
	$	474,440	$	157,056	$	631,496