Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2021
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 March 31, 2021
 
    
Level 1
    
Level 2
    
Level 3
    
Total
 
Cash equivalents:
                                   
Money market funds
  
$
38,460
 
  
$
—  
 
  
$
—  
 
  
$
38,460
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total cash equivalents
  
 
38,460
 
  
 
—  
 
  
 
—  
 
  
 
38,460
 
Marketable securities:
                                   
U.S. treasury securities
  
 
—  
 
  
 
8,000
 
  
 
—  
 
  
 
8,000
 
U.S. and foreign commercial paper
  
 
—  
 
  
 
33,475
 
  
 
—  
 
  
 
33,475
 
U.S. and foreign corporate debt securities
  
 
—  
 
  
 
23,677
 
  
 
—  
 
  
 
23,677
 
Asset-backed securities
  
 
—  
 
  
 
13,978
 
  
 
—  
 
  
 
13,978
 
Supranational debt securities
  
 
—  
 
  
 
3,002
 
  
 
—  
 
  
 
3,002
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total marketable securities
  
 
—  
 
  
 
82,132
 
  
 
—  
 
  
 
82,132
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total assets measured at fair value
  
$
38,460
 
  
$  
82,132
 
  
$
—  
 
  
$
120,592
 
    
 
 
    
 
 
    
 
 
    
 
 
 
 
    
As of December 31, 2020
 
    
Level 1
    
Level 2
    
Level 3
    
Total
 
Cash equivalents:
                                   
Money market funds
  
$
22,415
 
  
$
—  
 
  
$
—  
 
  
$
22,415
 
U.S. commercial paper
  
 
—  
 
  
 
—  
 
  
 
—  
 
  
 
—  
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total cash equivalents
  
 
22,415
 
  
 
—  
 
  
 
—  
 
  
 
22,415
 
Marketable securities:
                                   
U.S. treasury securities
  
 
—  
 
  
 
15,499
 
  
 
—  
 
  
 
15,499
 
U.S. and foreign commercial paper
  
 
—  
 
  
 
38,561
 
  
 
—  
 
  
 
38,561
 
U.S. and foreign corporate debt securities
  
 
—  
 
  
 
29,189
 
  
 
—  
 
  
 
29,189
 
U.S. agency securities
  
 
—  
 
  
 
23,994
 
  
 
—  
 
  
 
23,994
 
Asset-backed securities
  
 
—  
 
  
 
7,885
 
  
 
—  
 
  
 
7,885
 
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
 
    
 
 
    
 
 
    
 
 
    
 
 
 
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,
 
    
2021
    
2020
 
Numerator:
                 
Net loss
  
$
(17,551
  
$
(13,088
Denominator:
                 
Weighted average number of common stock shares outstanding
  
 
68,946,092
 
  
 
68,882,459
 
Net loss per share
  
$
(0.25
  
$
(0.19
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,
 
    
2021
    
2020
 
Common stock options
  
 
10,052
 
  
 
6,117
 
Incentive awards
  
 
101
 
  
 
101
 
    
 
 
    
 
 
 
Total
  
 
10,153
  
  
 
6,218