| Schedule of Assets Measured at Fair Value on Recurring Basis |
Assets measured at fair value on a recurring basis were as follows:
|
Description |
|
As of
June 30, 2018 |
|
|
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) |
|
|
Significant Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market mutual funds |
|
$ |
35,781,822 |
|
|
$ |
35,781,822 |
|
|
$ |
— |
|
|
$ |
— |
|
|
Commercial paper |
|
|
32,876,471 |
|
|
|
— |
|
|
|
32,876,471 |
|
|
|
— |
|
|
Corporate debt securities |
|
|
5,643,984 |
|
|
|
— |
|
|
|
5,643,984 |
|
|
|
— |
|
|
U.S. Treasury securities |
|
|
20,094,911 |
|
|
|
— |
|
|
|
20,094,911 |
|
|
|
— |
|
|
Total cash equivalents |
|
$ |
94,397,188 |
|
|
$ |
35,781,822 |
|
|
$ |
58,615,366 |
|
|
$ |
— |
|
|
Short-term investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset-backed securities |
|
$ |
20,159,772 |
|
|
$ |
— |
|
|
$ |
20,159,772 |
|
|
$ |
— |
|
|
Commercial paper |
|
|
53,019,143 |
|
|
|
— |
|
|
|
53,019,143 |
|
|
|
— |
|
|
Corporate debt securities |
|
|
58,467,890 |
|
|
|
— |
|
|
|
58,467,890 |
|
|
|
— |
|
|
U.S. Treasury securities |
|
|
28,900,745 |
|
|
|
— |
|
|
|
28,900,745 |
|
|
|
— |
|
|
Total short-term investments |
|
$ |
160,547,550 |
|
|
$ |
— |
|
|
$ |
160,547,550 |
|
|
$ |
— |
|
|
Total financial assets |
|
$ |
254,944,738 |
|
|
$ |
35,781,822 |
|
|
$ |
219,162,916 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description |
|
As of
December 31, 2017 |
|
|
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) |
|
|
Significant Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market mutual funds |
|
$ |
44,181,756 |
|
|
$ |
44,181,756 |
|
|
$ |
— |
|
|
$ |
— |
|
|
Total cash equivalents |
|
$ |
44,181,756 |
|
|
$ |
44,181,756 |
|
|
$ |
— |
|
|
$ |
— |
|
|
Short-term investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset-backed securities |
|
$ |
7,421,703 |
|
|
$ |
— |
|
|
$ |
7,421,703 |
|
|
$ |
— |
|
|
Commercial paper |
|
|
34,882,298 |
|
|
|
— |
|
|
|
34,882,298 |
|
|
|
— |
|
|
Corporate debt securities |
|
|
26,856,283 |
|
|
|
— |
|
|
|
26,856,283 |
|
|
|
— |
|
|
U.S. Treasury securities |
|
|
8,923,320 |
|
|
|
— |
|
|
|
8,923,320 |
|
|
|
— |
|
|
Total short-term investments |
|
$ |
78,083,604 |
|
|
$ |
— |
|
|
$ |
78,083,604 |
|
|
$ |
— |
|
|
Total financial assets |
|
$ |
122,265,360 |
|
|
$ |
44,181,756 |
|
|
$ |
78,083,604 |
|
|
$ |
— |
|
|