Marketable Securities and Fair Value (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Financial Assets at Fair Value on Recurring Basis

The following table sets forth the Company’s financial assets (cash equivalents and marketable securities) at fair value on a recurring basis as of June 30, 2015 and December 31, 2014:

	Fair Value as of June 30, 2015		Basis of Fair Value Measurements
(in thousands)			Level 1		Level 2		Level 3
Money market funds	$	6,024	$	6,024	$	—	$	—
Certificates of deposit		356		—		356		—
Corporate debt securities		27,833		—		27,833		—
Government securities		21,709		—		21,709		—
Municipal securities		1,956		—		1,956		—
Commercial paper		8,880		—		8,880		—
Total cash equivalents and marketable securities	$	66,758	$	6,024	$	60,734	$	—

	Fair Value as of December 31, 2014		Basis of Fair Value Measurements
(in thousands)			Level 1		Level 2		Level 3
Money market funds	$	3,369	$	3,369	$	—	$	—
Certificates of deposit		2,505		—		2,505		—
Corporate debt securities		28,081		—		28,081		—
Government securities		19,123		—		19,123		—
Commercial paper		5,499		—		5,499		—
Total cash equivalents and marketable securities	$	58,577	$	3,369	$	55,208	$	—

Summary of Company's Available-for-Sale Securities

The Company invests in highly-liquid, investment-grade securities. The following is a summary of the Company’s available-for-sale securities at June 30, 2015 and December 31, 2014:

As of June 30, 2015 (in thousands):	Cost Basis		Unrealized Gain		Unrealized Loss			Fair Value
Money market funds	$	6,024	$	—	$	—		$	6,024
Certificates of deposit		356		—		—			356
Corporate debt securities		27,853		1		(21	)		27,833
U.S. Government securities		21,708		2		(1	)		21,709
Municipal securities		1,955		1		—			1,956
Commercial paper		8,880		—		—			8,880
		66,776		4		(22	)		66,758
Less cash equivalents		10,308		—		—			10,308
Total marketable securities	$	56,468	$	4	$	(22	)	$	56,450

As of December 31, 2014 (in thousands):	Cost Basis		Unrealized Gain		Unrealized Loss			Fair Value
Money market funds	$	3,369	$	—	$	—		$	3,369
Certificates of deposit		2,505		—		—			2,505
Corporate debt securities		28,094		1		(14	)		28,081
U.S. Government securities		19,123		3		(3	)		19,123
Commercial paper		5,499		—		—			5,499
		58,590		4		(17	)		58,577
Less cash equivalents		8,368		—		—			8,368
Total marketable securities	$	50,222	$	4	$	(17	)	$	50,209

Marketable Securities with Unrealized Losses

The following table provides the breakdown of the marketable securities with unrealized losses at June 30, 2015 (in thousands):

	In loss position for less than twelve months
As of June 30, 2015 (in thousands):	Fair Value		Unrealized Loss
U.S. Government securities	$	6,484	$	(1	)
Corporate debt securities		24,225		(21	)
Total marketable securities	$	30,709	$	(22	)