Quarterly report pursuant to Section 13 or 15(d)

Fair value measurements

v3.19.3
Fair value measurements
9 Months Ended
Sep. 30, 2019
Fair value measurements  
Fair value measurements

Note 8 Fair value measurements

Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of September 30, 2019 are as follows (in thousands):

Fair value measurements using

September 30, 

Level 1

Level 2

Level 3

     

2019

    

    

    

Assets:

Marketable securities:

Corporate debt securities

 

$

59,430

 

$

59,430

 

$

 

$

Agency bond

4,021

4,021

 

$

63,451

 

$

59,430

 

$

4,021

 

$

The Company estimates the fair value of available-for-sale debt securities with the aid of a third party valuation service, which uses actual trade and indicative prices sourced from third-party providers on a daily basis to estimate the fair value. If observed market prices are not available (for example securities with short maturities and infrequent secondary market trades), the securities are priced using a valuation model maximizing observable inputs, including market interest rates.