Marketable Securities and Fair Value (Tables)

9 Months Ended

Sep. 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 September 30, 2015 and December 31, 2014:

	Fair Value as of September 30, 2015		Basis of Fair Value Measurements
(in thousands)			Level 1		Level 2		Level 3
Money market funds	$	4,867	$	4,867	$	—	$	—
Certificates of deposit		841		—		841		—
Corporate debt securities		18,128		—		18,128		—
Government securities		17,253		—		17,253		—
Municipal securities		1,933		—		1,933		—
Commercial paper		13,392		—		13,392		—
Total cash equivalents and marketable securities	$	56,414	$	4,867	$	51,547	$	—

	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 September 30, 2015 and December 31, 2014:

As of September 30, 2015 (in thousands):	Cost Basis		Unrealized Gain		Unrealized Loss			Fair Value
Money market funds	$	4,867	$	—	$	—		$	4,867
Certificates of deposit		841		—		—			841
Corporate debt securities		18,136		2		(10	)		18,128
U.S. Government securities		17,249		4		—			17,253
Municipal securities		1,932		1		—			1,933
Commercial paper		13,392		—		—			13,392
		56,417		7		(10	)		56,414
Less cash equivalents		13,709		—		—			13,709
Total marketable securities	$	42,708	$	7	$	(10	)	$	42,705

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 September 30, 2015 (in thousands):

	In loss position for less than twelve months
As of September 30, 2015 (in thousands):	Fair Value		Unrealized Loss
Corporate debt securities		11,234		(10	)