| Summary of Cash Equivalents and Marketable Securities |
The following tables summarize the Company’s cash equivalents
and marketable securities as of December 31, 2016 and
2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2016 |
|
| |
|
Total |
|
|
Quoted
Prices in
Active
Markets
(Level 1) |
|
|
Significant
Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
| |
|
(in
thousands) |
|
|
Cash equivalents:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds
|
|
$ |
22,091 |
|
|
$ |
22,091 |
|
|
$ |
— |
|
|
$ |
— |
|
|
Commercial paper
|
|
|
2,997 |
|
|
|
— |
|
|
|
2,997 |
|
|
|
— |
|
|
Corporate bonds
|
|
|
1,500 |
|
|
|
— |
|
|
|
1,500 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash equivalents
|
|
|
26,588 |
|
|
|
22,091 |
|
|
|
4,497 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketable securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds
|
|
|
69,622 |
|
|
|
— |
|
|
|
69,622 |
|
|
|
— |
|
|
Commercial paper
|
|
|
27,220 |
|
|
|
— |
|
|
|
27,220 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total marketable securities
|
|
|
96,842 |
|
|
|
— |
|
|
|
96,842 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash equivalents and marketable securities
|
|
$ |
123,430 |
|
|
$ |
22,091 |
|
|
$ |
101,339 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2015 |
|
| |
|
Total |
|
|
Quoted
Prices in
Active
Markets
(Level 1) |
|
|
Significant
Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
| |
|
(in
thousands) |
|
|
Cash equivalents:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds
|
|
$ |
13,231 |
|
|
$ |
13,231 |
|
|
$ |
— |
|
|
$ |
— |
|
|
U.S. government securities
|
|
|
4,999 |
|
|
|
— |
|
|
|
4,999 |
|
|
|
— |
|
|
Commercial paper
|
|
|
4,697 |
|
|
|
— |
|
|
|
4,697 |
|
|
|
— |
|
|
Corporate bonds
|
|
|
3,000 |
|
|
|
— |
|
|
|
3,000 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash equivalents
|
|
|
25,927 |
|
|
|
13,231 |
|
|
|
12,696 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketable securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds
|
|
|
125,516 |
|
|
|
— |
|
|
|
125,516 |
|
|
|
— |
|
|
Commercial paper
|
|
|
19,468 |
|
|
|
— |
|
|
|
19,468 |
|
|
|
— |
|
|
U.S. government securities
|
|
|
4,500 |
|
|
|
— |
|
|
|
4,500 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total marketable securities
|
|
|
149,484 |
|
|
|
— |
|
|
|
149,484 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash equivalents and marketable securities
|
|
$ |
175,411 |
|
|
$ |
13,231 |
|
|
$ |
162,180 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of Marketable Securities |
The following tables summarize the Company’s marketable
securities as of December 31, 2016 and 2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2016 |
|
| |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair Value |
|
| |
|
(in
thousands) |
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds (due within 1 year)
|
|
$ |
68,777 |
|
|
$ |
— |
|
|
$ |
(54 |
) |
|
$ |
68,723 |
|
|
Corporate bonds (due after 1 year through 2 years)
|
|
|
901 |
|
|
|
— |
|
|
|
(2 |
) |
|
|
899 |
|
|
Commercial paper (due within 1 year)
|
|
|
27,244 |
|
|
|
— |
|
|
|
(24 |
) |
|
|
27,220 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
96,922 |
|
|
$ |
— |
|
|
$ |
(80 |
) |
|
$ |
96,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2015 |
|
| |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair Value |
|
| |
|
(in
thousands) |
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds (due within 1 year)
|
|
$ |
112,828 |
|
|
$ |
1 |
|
|
$ |
(169 |
) |
|
$ |
112,660 |
|
|
Corporate bonds (due after 1 year through 2 years)
|
|
|
12,885 |
|
|
|
3 |
|
|
|
(32 |
) |
|
|
12,856 |
|
|
Commercial paper (due within 1 year)
|
|
|
19,478 |
|
|
|
— |
|
|
|
(10 |
) |
|
|
19,468 |
|
|
U.S. government securities (due within 1 year)
|
|
|
4,500 |
|
|
|
— |
|
|
|
— |
|
|
|
4,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
149,691 |
|
|
$ |
4 |
|
|
$ |
(211 |
) |
|
$ |
149,484 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|