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Fair value measurements (Tables)
9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Assets measured at fair value on recurring basis
The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows:
 
September 30, 2017
 
December 31, 2016
(in thousands)
Level 1
 
Level 2
 
Total
 
Level 1
 
Level 2
 
Total
Cash equivalents (1):
 
 
 
 
 
 
 
 
 
 
 
Money market funds
$
45,954

 
$

 
$
45,954

 
$
18,024

 
$

 
$
18,024

Commercial paper
9,991

 

 
9,991

 

 

 

Corporate debt securities

 
4,500

 
4,500

 

 

 

Total cash equivalents
$
55,945

 
$
4,500

 
$
60,445

 
$
18,024

 
$

 
$
18,024

Marketable securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. agency securities
$

 
$

 
$

 
$

 
$
8,283

 
$
8,283

Commercial paper
17,428

 

 
17,428

 

 

 

Corporate debt securities

 
14,518

 
14,518

 

 
15,226

 
15,226

Municipal securities

 

 

 

 
2,330

 
2,330

Total marketable securities
$
17,428

 
$
14,518

 
$
31,946

 
$

 
$
25,839

 
$
25,839

(1) Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheets. Cash balances were $104.2 million and $174.1 million as of September 30, 2017 and December 31, 2016, respectively.