Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Summary of Assets Measured at Fair Value On Recurring Basis

The Company’s financial instruments that are measured at fair value on a recurring basis consist of certificates of deposit. The following table summarizes the assets measured at fair value on a recurring basis as of September 30, 2020 by level within the fair value hierarchy:

 

    September 30, 2020  
    (Level 1)     (Level 2)     (Level 3)     Total  
Marketable investment securities:                                
Certificates of deposit   $ -     $ 6,050,000     $ -     $ 6,050,000