Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
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