Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Measurements

Schedule of financial assets and liabilities subject to fair value measurements

	As of September 30, 2017		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Money market funds and cash equivalents	$	42,032	$	—	$	42,032	$	—
Marketable securities	85,795		—		85,795		—
	$	127,827	$	—	$	127,827	$	—
Liabilities:
Kolltan acquisition contingent consideration	$	44,000	$	—	$	—	$	44,000
	$	44,000	$	—	$	—	$	44,000

	As of December 31, 2016		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Money market funds and cash equivalents	$	20,445	$	—	$	20,445	$	—
Marketable securities	147,315		—		147,315		—
	$	167,760	$	—	$	167,760	$	—
Liabilities:
Kolltan acquisition contingent consideration	$	44,200	$	—	$	—	$	44,200
	$	44,200	$	—	$	—	$	44,200

Schedule of the Company's contingent consideration liabilities measured at fair value using Level 3 inputs

The following table reflects the activity for the Company’s contingent consideration liabilities measured at fair value using Level 3 inputs for the nine months ended September 30, 2017 (in thousands):

	Other Long-Term Liabilities: Contingent Consideration
Balance at December 31, 2016	$	44,200
Fair value adjustments included in operating expenses	(200		)
Balance at September 30, 2017	$	44,000