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Assets and Liabilities Measured at Fair Value (Tables)
9 Months Ended
Sep. 30, 2013
Assets and Liabilities Measured at Fair Value  
Schedule of weighted average assumptions used in the Black-Scholes valuation model for the warrants

 

 

 

 

Nine Months Ended September 30,

 

 

 

2012

 

2013

 

Expected stock price volatility

 

76.0

%

59.7

%

Risk free interest rate

 

0.19

%

0.03

%

Expected life of warrants (years)

 

1.42

 

0.42

 

Expected annual dividend per share

 

$

0.00

 

$

0.00

 

Schedule of financial assets and liabilities subject to fair value measurements

A summary of the fair value of the Company’s assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of December 31, 2012, are identified in the following table (in thousands):

 

 

 

Balance as of December 31, 2012

 

 

 

Level 1

 

Level 2

 

Total

 

Assets:

 

 

 

 

 

 

 

Cash/Money market funds

 

$

33,971

 

$

 

$

33,971

 

Corporate debt securities

 

 

42,497

 

42,497

 

Commercial paper

 

 

19,744

 

19,744

 

Certificate of deposit

 

 

2,910

 

2,910

 

 

 

$

33,971

 

$

65,151

 

$

99,122

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

Secured debt

 

$

 

$

697

 

$

 

$

697

 

Warrants liability

 

 

 

908

 

908

 

 

 

$

 

$

697

 

$

908

 

$

1,605

 

 

A summary of the fair value of the Company’s assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of September 30, 2013, are identified in the following table (in thousands):

 

 

 

Balance as of September 30, 2013

 

 

 

Level 1

 

Level 2

 

Total

 

Assets:

 

 

 

 

 

 

 

Cash/Money market funds

 

$

30,047

 

$

 

$

30,047

 

Corporate debt securities

 

 

 

21,098

 

21,098

 

Commercial paper

 

 

9,000

 

9,000

 

Certificate of deposit

 

 

350

 

350

 

 

 

$

30,047

 

$

30,448

 

$

60,495

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

Secured debt

 

$

 

$

398

 

$

 

$

398

 

Warrants liability

 

 

 

34

 

34

 

 

 

$

 

$

398

 

$

34

 

$

432