Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 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 December 31, 2020
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	22,415	$	—	$	—	$	22,415

Total cash equivalents		22,415		—		—		22,415
Marketable securities:
U.S. and foreign commercial paper		—		38,561		—		38,561
U.S. and foreign corporate debt securities		—		29,189		—		29,189
Asset-backed securities		—		7,885		—		7,885
U.S. agency securities		—		23,994		—		23,994
U.S. treasury securities		—		15,499		—		15,499
Supranational debt securities		—		3,002		—		3,002

Total marketable securities		—		118,130		—		118,130

Total assets measured at fair value	$	22,415	$	118,130	$	—	$	140,545


	As of December 31, 2019
	Level 1		Level 2		Level 3		Total
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

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):


	Year Ended December 31,
	2020			2019
Numerator:
Net loss	$	(50,986	)	$	(102,808	)
Denominator:
Weighted average number of common stock shares outstanding		68,893,127			67,033,046
Net loss per share	$	(0.74	)	$	(1.53	)

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):


	Year Ended December 31,
	2020		2019
Common stock options		8,812		6,727
Incentive awards		101		101

Total		8,913		6,828