Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.20.1
Fair Value Measurements
3 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements

5. Fair Value Measurements

Assets measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 were as follows (in thousands):

 

 

 

 

 

 

 

Active

 

 

Observable

 

 

Unobservable

 

 

 

 

 

 

 

Markets

 

 

Inputs

 

 

Inputs

 

Description

 

March 31, 2020

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and money market funds

 

$

116,873

 

 

$

116,873

 

 

$

 

 

$

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasury obligations

 

 

5,003

 

 

 

5,003

 

 

 

 

 

 

 

 

 

$

121,876

 

 

$

121,876

 

 

$

 

 

$

 

 

 

 

 

 

 

 

Active

 

 

Observable

 

 

Unobservable

 

 

 

 

 

 

 

Markets

 

 

Inputs

 

 

Inputs

 

Description

 

December 31, 2019

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and money market funds

 

$

29,441

 

 

$

29,441

 

 

$

 

 

$

 

Overnight repurchase agreements

 

 

12,000

 

 

 

 

 

 

12,000

 

 

 

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasury obligations

 

 

49,975

 

 

 

49,975

 

 

 

 

 

 

 

 

 

$

91,416

 

 

$

79,416

 

 

$

12,000

 

 

$

 

 

As of March 31, 2020, the fair value of the long-term debt is based on Level 3 inputs and approximated its carrying value due to the proximity of the issuance date to March 31, 2020.