Note 3 - Fair Value Measurements

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Fair Value Disclosures [Text Block]

3. Fair Value Measurements

Below is a summary of assets and liabilities measured at fair value (in thousands):

	As of March 31, 2017
	Quoted Prices  in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets
Cash equivalents	$	21,507	$	-	$	-	$	21,507
Government securities		-		-		-		-
Total	$	21,507	$	-	$	-	$	21,507

	As of December 31, 2016
	Quoted Prices  in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets
Cash equivalents	$	28,876	$	-	$	-	$	28,876
Government securities		4,925		-		-		4,925
Total	$	33,801	$	-	$	-	$	33,801

As of

March

31,

2017

and

December

31,

2016,

the Company’s cash equivalents consist principally of money market funds with original maturities of

90

days or less.

Available-for-sale securities as of

December

31,

2016

consist of the following (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
December 31, 2016
Government securities
(Due within 1 year)	$	4,924	$	1	$	-	$	4,925
	$	4,924	$	1	$	-	$	4,925

There were no available-for-sale securities as of

March

31,

2017.