Fair Value (Tables)
 6 Months Ended
Jun. 30, 2012
Fair Value [Abstract]  
Fair Value of financial assets on a recurring Basis

In accordance with ASC Topic 820, the following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and marketable securities) measured at fair value on a recurring basis as of June 30, 2012 (in thousands):

 

                                 
          Fair Value Measurements at Reporting Date Using  
    June 30,
2012		     Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		     Significant
Unobservable
Inputs
(Level 3)		  

Assets

                                

Certificates of deposit

   $ 200     $ 200     $ —       $ —    

Money market funds

     7,408       7,408       —         —    

U.S. Treasury securities

     83,742       —         83,742       —    
   

 

 

    

 

 

    

 

 

    

 

 

  
    $ 91,350     $ 7,608     $ 83,742     $ —    
   

 

 

    

 

 

    

 

 

    

 

 

  

The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and marketable securities) measured at fair value on a recurring basis as of December 31, 2011 (in thousands):

 

                                 
          Fair Value Measurements at Reporting Date Using  
    December 31,
2011		     Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		     Significant
Unobservable
Inputs
(Level 3)		  

Assets

                                

Certificates of deposit

   $ 200     $ 200     $ —       $ —    

Money market funds

     9,238       9,238       —         —    

U.S. Treasury securities

     51,703       —         51,703       —    
   

 

 

    

 

 

    

 

 

    

 

 

  
    $ 61,141     $ 9,438     $ 51,703     $ —