Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

The following tables present the fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis using the above input categories (in thousands):


	As of March 31, 2020
	Level 1		Level 2		Level 3		Total Fair Value
Cash equivalents:
Money market funds	$	53,147	$	—	$	—	$	53,147

Total cash equivalents		53,147		—		—		53,147
Marketable securities:
U.S. and foreign commercial paper		—		52,277		—		52,277
U.S. and foreign corporate debt securities		—		31,008		—		31,008
Asset-backed securities		—		18,069		—		18,069
U.S. treasury securities		—		18,084		—		18,084

Total marketable securities		—		119,438		—		119,438

Total assets measured at fair value	$	53,147	$	119,438	$	—	$	172,585


	As of December 31, 2019
	Level 1		Level 2		Level 3		Total Fair Value
Cash equivalents:
Money market funds	$	18,597	$	—	$	—	$	18,597

Total cash equivalents		18,597		—		—		18,597
Marketable securities:
U.S. and foreign commercial paper		—		51,102		—		51,102
U.S. and foreign corporate debt securities		—		56,729		—		56,729
Asset-backed securities		—		39,788		—		39,788
U.S. treasury securities		—		18,457		—		18,457

Total marketable securities		—		166,076		—		166,076

Total assets measured at fair value	$	18,597	$	166,076	$	—	$	184,673

Schedule of Amortized Cost, Unrealized Gain and Loss, and Fair Value of Available for Sale Marketable Securities


			Gross		Gross
	Amortized		Unrealized		Unrealized			Total
	Cost		Gains		Losses			Fair Value
As of March 31, 2020:
Cash equivalents:
Money market funds	$	53,147	$	—	$	—		$	53,147

Total cash equivalents		53,147							53,147
Short-term investments:
U.S. and foreign commercial paper	$	52,278	$	—	$	—		$	52,278
U.S. and foreign corporate debt securities		31,135		—		(128	)		31,007
Asset-backed securities		18,153		—		(84	)		18,069
U.S. treasury securities		18,003		81		—			18,084

Total short-term investments		119,569		81		(212	)		119,438

Total marketable securities	$	172,715	$	81	$	(212	)	$	172,585


			Gross		Gross
	Amortized		Unrealized		Unrealized		Total
	Cost		Gains		Losses		Fair Value
As of December 31, 2019:
Cash equivalents:
Money market funds	$	18,597	$	—	$	—	$	18,597

Total cash equivalents		18,597		—		—		18,597
Short-term investments:
U.S. and foreign commercial paper	$	51,102	$	—	$	—	$	51,102
U.S. and foreign corporate debt securities		56,691		38		—		56,729
Asset-backed securities		39,756		33		—		39,789
U.S. treasury securities		18,447		9		—		18,456

Total short-term investments		165,996		80		—		166,076

Total marketable securities	$	184,593	$	80	$	—	$	184,673

Computation of Basic and Diluted Net Loss per Share

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share amounts):


	Three Months Ended
	March 31,
	2020			2019
Numerator:
Net loss allocated to common stock—basic	$	(13,088	)	$	(23,075	)

Net loss allocated to common stock—diluted	$	(13,088	)	$	(23,075	)

Denominator:
Weighted average number of common stock shares O utstanding—basic		68,882,459			61,890,632

Weighted average number of common stock shares O utstanding—diluted		68,882,459			61,890,632
Net loss per share—basic:	$	(0.19	)	$	(0.37	)
Net loss per share—diluted:	$	(0.19	)	$	(0.37	)

Anti-Dilutive Securities Excluded from the Computation of Diluted Net Loss per Share

The following table shows the total outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net loss per share (in thousands):


	Three Months Ended
	March 31,
	2020		2019
Common stock options		6,117		7,349
Incentive awards		101		127

Total		6,218		7,476