Annual report pursuant to Section 13 and 15(d)

Available-for-Sale Securities

v3.20.1
Available-for-Sale Securities
12 Months Ended
Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]  
Available-for-Sale Securities

4. Available-for-Sale Securities

The following table is a summary of available-for-sale securities recorded in cash and cash equivalents or marketable securities in our consolidated balance sheets as of December 31, 2019 and 2018 (in thousands):

 

 

 

December 31, 2019

 

 

 

Amortized

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair

Value

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

14,731

 

 

$

 

 

$

 

 

$

14,731

 

U.S. Treasury securities

 

 

5,285

 

 

 

1

 

 

 

(1

)

 

 

5,285

 

Commercial paper

 

 

15,174

 

 

 

12

 

 

 

 

 

 

15,186

 

Corporate debt securities

 

 

17,168

 

 

 

3

 

 

 

 

 

 

17,171

 

U.S. agency bonds

 

 

25,597

 

 

 

16

 

 

 

 

 

 

25,613

 

Total

 

$

77,955

 

 

$

32

 

 

$

(1

)

 

$

77,986

 

 

 

 

December 31, 2018

 

 

 

Amortized Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair Value

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

23,156

 

 

$

 

 

$

 

 

$

23,156

 

U.S. Treasury securities

 

 

25,698

 

 

 

 

 

 

(6

)

 

 

25,692

 

Commercial paper

 

 

19,203

 

 

 

 

 

 

(13

)

 

 

19,190

 

Corporate debt securities

 

 

20,449

 

 

 

4

 

 

 

(2

)

 

 

20,451

 

U.S. agency bonds

 

 

17,921

 

 

 

 

 

 

(4

)

 

 

17,917

 

Total

 

$

106,427

 

 

$

4

 

 

$

(25

)

 

$

106,406

 

 

The Company believes that the individual unrealized losses represent temporary declines primarily resulting from interest rate changes, and intends to hold these marketable securities to their maturities.

 

As of December 31, 2019, the amortized cost and estimated fair value of the Company’s available-for-sale securities by contractual maturity are shown below (in thousands):

 

 

 

Amortized

 

 

Estimated

 

 

 

Cost

 

 

Fair Value

 

Available-for-sale securities maturing:

 

 

 

 

 

 

 

 

In one year or less

 

$

77,955

 

 

$

77,986

 

Total available-for-sale securities

 

$

77,955

 

 

$

77,986

 

 

The Company currently does not intend to sell these securities prior to maturity and does not consider these investments to be other-than-temporarily impaired at December 31, 2019. There were no sales of available-for-sale securities in any of the periods presented.