Available-for-Sale Marketable Securities

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Available-for-Sale Marketable Securities

Available-for-Sale Marketable Securities

As of December 31, 2016 and December 31, 2015, the Company’s available-for-sale marketable securities consisted of debt securities issued by the U.S. government and corporate debt securities.

The following tables summarize the Company’s available-for-sale marketable securities by major type of security as of December 31, 2016 and December 31, 2015 (in thousands):

	December 31, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. Treasury securities	$	—	$	—	$	—		$	—
Corporate bonds	24,821		17		(53		)	24,785
Total available-for-sale marketable securities	$	24,821	$	17	$	(53	)	$	24,785

	December 31, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. Treasury securities	$	3,516	$	—	$	—	$	3,516
Corporate bonds	—		—		—		—
Total available-for-sale marketable securities	$	3,516	$	—	$	—	$	3,516

All available-for-sale marketable securities are classified in the Company’s Condensed Balance Sheets as Short term deposits and investments.

The Company classifies its marketable debt securities based on their contractual maturity dates. As of December 31, 2016, the Company’s marketable debt securities mature at various dates through August 2017. The fair values and amortized cost of marketable debt securities by contractual maturity were as follows (in thousands):

	December 31, 2016				December 31, 2015
	Fair Value		Amortized Cost		Fair Value		Amortized Cost
Less than one year	$	24,785	$	24,821	$	3,516	$	3,516

As of December 31, 2016 the Company held a total of 6 out of 20 positions that were in an unrealized loss position, none of which had been in an unrealized loss position for 12 months or greater. Based on the Company’s review of these securities, the Company believes that the cost basis of its available-for-sale marketable securities is recoverable and that, therefore, it had no other-than-temporary impairments on these securities as of December 31, 2016. The Company does not intend to sell these debt securities and the Company believes it is not more likely than not that it will be required to sell these securities before the recovery of their amortized cost basis, which may be maturity.