| Fair Value of Financial Assets and Liabilities Measured on Recurring Basis |
The following table sets forth the fair value of the Company’s financial assets and liabilities measured on a recurring basis by level within the fair value hierarchy:
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|
|
September 30, 2021
|
|
|
|
|
Total
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
|
|
(in thousands)
|
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds
|
|
$
|
30,108
|
|
|
$
|
30,108
|
|
|
$
|
–
|
|
|
$
|
–
|
|
|
Commercial paper
|
|
|
56,568
|
|
|
|
–
|
|
|
|
56,568
|
|
|
|
–
|
|
|
Corporate debt securities
|
|
|
70,276
|
|
|
|
–
|
|
|
|
70,276
|
|
|
|
–
|
|
|
Equity securities
|
|
|
39,763
|
|
|
|
39,763
|
|
|
|
–
|
|
|
|
–
|
|
|
Asset-backed securities
|
|
|
37,595
|
|
|
|
–
|
|
|
|
37,595
|
|
|
|
–
|
|
|
U.S. government securities
|
|
|
37,631
|
|
|
|
37,631
|
|
|
|
–
|
|
|
|
–
|
|
|
Supranational debt securities
|
|
|
21,440
|
|
|
|
–
|
|
|
|
21,440
|
|
|
|
–
|
|
|
Total
|
|
$
|
293,381
|
|
|
$
|
107,502
|
|
|
$
|
185,879
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table sets forth the fair value of the Company’s financial assets and liabilities measured on a recurring basis by level within the fair value hierarchy:
|
|
|
December 31, 2020
|
|
|
|
|
Total
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
|
|
(in thousands)
|
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds
|
|
$
|
204,632
|
|
|
$
|
204,632
|
|
|
$
|
–
|
|
|
$
|
–
|
|
|
Commercial paper
|
|
|
42,208
|
|
|
|
–
|
|
|
|
42,208
|
|
|
|
–
|
|
|
Corporate debt securities
|
|
|
25,716
|
|
|
|
–
|
|
|
|
25,716
|
|
|
|
–
|
|
|
Equity securities
|
|
|
41,644
|
|
|
|
41,644
|
|
|
|
–
|
|
|
|
–
|
|
|
Asset-backed securities
|
|
|
12,632
|
|
|
|
–
|
|
|
|
12,632
|
|
|
|
–
|
|
|
U.S. government securities
|
|
|
39,785
|
|
|
|
39,785
|
|
|
|
–
|
|
|
|
–
|
|
|
Total
|
|
$
|
366,617
|
|
|
$
|
286,061
|
|
|
$
|
80,556
|
|
|
$
|
–
|
|
|
|
|
|
|
|
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