Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

v3.20.2
Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2020
Fair Value of Financial Instruments  
Schedule of cash, cash equivalents and marketable securities

The following table presents fair value of the Company’s cash, cash equivalents, and marketable securities as of June 30, 2020 and December 31, 2019 (in thousands):

June 30, 2020

    

Adjusted 

   

Unrealized

   

Unrealized

   

   

Cash and Cash

   

Restricted

   

Marketable

Cost

Gains

Losses

Fair Value

Equivalents

Cash

Securities

Cash

$

10,663

$

$

$

10,663

$

9,353

$

1,310

$

Level 1 (1):

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Money market funds

 

45,442

 

 

 

45,442

 

45,442

 

 

U.S. treasury securities

 

 

 

 

 

 

 

Subtotal

 

45,442

 

 

 

45,442

 

45,442

 

 

Level 2 (2):

 

  

 

  

 

  

 

  

 

  

 

  

 

  

U.S. government agency securities

 

 

 

 

 

 

 

Total

$

56,105

$

$

$

56,105

$

54,795

$

1,310

$

December 31, 2019

Adjusted 

Unrealized

Unrealized

Cash and Cash

Restricted

Marketable

    

Cost

    

Gains

    

Losses

    

Fair Value

    

Equivalents

    

Cash

    

Securities

Cash

$

9,302

$

$

$

9,302

$

7,993

$

1,309

$

Level 1 (1):

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Money market funds

 

18,306

 

 

 

18,306

 

18,306

 

 

U.S. treasury securities

5,996

5,996

2,496

3,500

Subtotal

 

24,302

 

 

 

24,302

 

20,802

 

 

3,500

Level 2 (2):

 

  

 

  

 

  

 

  

 

  

 

  

 

  

U.S. government agency securities

 

3,510

 

 

 

3,510

 

3,510

 

 

Total

$

37,114

$

$

$

37,114

$

32,305

$

1,309

$

3,500

(1) The fair value of Level 1 securities is estimated based on quoted prices in active markets for identical assets or liabilities.
(2) The fair value of Level 2 securities is estimated based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.