Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Financial Instruments

Summary of assets measured at fair value on a recurring basis

The Company determines the fair value of available-for-sale securities (Note 4) using Level 2 inputs. Below is a summary of assets measured at fair value on a recurring basis (in thousands):

	As of June 30, 2016
	Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Cash and cash equivalents:
Money market funds	$	23,515	$	—	$	—	$	23,515
Available-for-sale securities:
Corporate debt securities	—		14,833		—		14,833
U.S. government-sponsored securities	—		3,706		—		3,706
Total assets	$	23,515	$	18,539	$	—	$	42,054

	As of December 31, 2015
	Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Money market funds	$	62,004	$	—	$	—	$	62,004
Total assets	$	62,004	$	—	$	—	$	62,004