Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of assets and liabilities that are measured at fair value on a recurring basis

The following tables provide the Company's assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2014 and December 31, 2013 (in thousands).

Description	Balance as of December 31, 2014		Level 1		Level 2		Level 3
Assets:
Cash and money market funds	$	6,414	$	6,414	$	—	$	—
Corporate debt securities (including commercial paper)		53,817		—		53,817		—

Total assets	$	60,231	$	6,414	$	53,817	$	—

Description	Balance as of December 31, 2013		Level 1		Level 2		Level 3
Assets:
Cash and money market funds	$	18,078	$	18,078	$	—	$	—
Corporate debt securities (including commercial paper)		26,349		—		26,349		—

Total assets	$	44,427	$	18,078	$	26,349	$	—


Liabilities:
Technology access fee due to Intrexon	$	2,186	$	—	$	—	$	2,186

Total liabilities	$	2,186	$	—	$	—	$	2,186

Schedule of changes in the fair value of the level 3 technology access fee due to Intrexon

	Technology access fee
	(in thousands)
Balance at December 31, 2012	$	—
Collaboration with Intrexon		2,174
Fair value adjustment(1)		12

Balance at December 31, 2013	$	2,186

Fair value adjustment(1)		314
Payments(2)	$	(2,500	)

Balance at December 31, 2014	$	—

(1)	Fair value adjustments consist of interest recorded.
(2)	The full $2.5 million was paid in December 2014.

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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