Annual report pursuant to Section 13 and 15(d)

Marketable Securities and Fair Value Measurements (Tables)

v3.19.1
Marketable Securities and Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Financial Assets at Fair Value on Recurring Basis

The following table sets forth the Company’s financial assets (cash equivalents and available-for-sale marketable securities) at fair value on a recurring basis as of December 31, 2018 and 2017:

 

 

 

Fair Value as of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

Basis of Fair Value Measurements

 

(in thousands)

 

2018

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market funds

 

$

82,843

 

 

$

82,843

 

 

$

 

 

$

 

Commercial paper

 

 

12,825

 

 

 

 

 

 

12,825

 

 

 

 

    Total

 

$

95,668

 

 

$

82,843

 

 

$

12,825

 

 

$

 

Amounts included in:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

85,434

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketable securities, current

 

 

10,234

 

 

 

 

 

 

 

 

 

 

 

 

 

   Total

 

$

95,668

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value as of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

Basis of Fair Value Measurements

 

(in thousands)

 

2017

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Money market funds

 

$

51,751

 

 

$

51,751

 

 

$

 

 

$

 

Commercial paper

 

 

 

 

 

 

 

 

 

 

 

 

    Total

 

$

51,751

 

 

$

51,751

 

 

$

 

 

$

 

Amounts included in:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

 

51,751

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketable securities, current

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Total

 

$

51,751

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Company's Available-for-Sale Securities

The Company invests in highly-liquid, investment-grade securities. The following is a summary of the Company’s available-for-sale securities at December 31, 2018 and 2017:

 

As of December 31, 2018 (in thousands):

 

Cost Basis

 

 

Unrealized

Gain

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Maturity Dates

Cash equivalents - money market funds and commercial paper

 

$

85,434

 

 

$

 

 

$

 

 

$

85,434

 

 

 

Marketable securities, current - commercial paper

 

 

10,234

 

 

 

 

 

 

 

 

 

10,234

 

 

1/2019 - 9/2019

 

As of December 31, 2017 (in thousands):

 

Cost Basis

 

 

Unrealized

Gain

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Maturity Dates

Cash equivalents - money market funds

 

$

51,751

 

 

$

 

 

$

 

 

$

51,751

 

 

 

 

Financial Liabilities at Fair Value on Recurring Basis

The following table sets forth the Company’s financial liabilities measured at fair value on a recurring basis as of the date indicated below:

 

 

 

Fair Value as of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

Basis of Fair Value Measurements

 

(in thousands)

 

2018

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

2017 warrants

 

$

3

 

 

$

 

 

$

 

 

$

3

 

 

 

 

Fair Value as of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

Basis of Fair Value Measurements

 

(in thousands)

 

2017

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

2017 warrants

 

$

954

 

 

$

 

 

$

 

 

$

954