Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

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

The following tables represent the fair value hierarchy as of June 30, 2017 and December 31, 2016, for those assets and liabilities that we measure at fair value on a recurring basis (in thousands):

	Fair Value Measurements at June 30, 2017 Using:
			Quoted Prices in				Significant
			Active Markets for		Significant Other		Unobservable
			Identical Assets		Observable Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents	$	1,522	$	1,522	$	—	$	—
Corporate debt securities	93,103		—		93,103		—
U.S. treasury and government agency securities	10,832		—		10,832		—
Commercial paper	16,708		—		16,708		—
Certificates of deposit	18,452		—		18,452		—
Total Assets	$	140,617	$	1,522	$	139,095	$	—
Liabilities:
Contingent consideration - Lumara Health	$	148,797	$	—	$	—	$	148,797
Contingent consideration - MuGard	1,866		—		—		1,866
Total Liabilities	$	150,663	$	—	$	—	$	150,663

	Fair Value Measurements at December 31, 2016 Using:
			Quoted Prices in				Significant
			Active Markets for		Significant Other		Unobservable
			Identical Assets		Observable Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents	$	9,951	$	9,951	$	—	$	—
Corporate debt securities	245,857		—		245,857		—
U.S. treasury and government agency securities	12,364		—		12,364		—
Commercial paper	40,560		—		40,560		—
Certificates of deposit	6,000		—		6,000		—
Total Assets	$	314,732	$	9,951	$	304,781	$	—
Liabilities:
Contingent consideration - Lumara Health	$	145,974	$	—	$	—	$	145,974
Contingent consideration - MuGard	2,021		—		—		2,021
Total Liabilities	$	147,995	$	—	$	—	$	147,995

Schedule of reconciliation of contingent consideration obligations

The following table presents a reconciliation of contingent consideration obligations related to the acquisition of Lumara Health and the MuGard Rights (in thousands):

Balance as of December 31, 2016	$	147,995
Payments made	(118		)
Adjustments to fair value of contingent consideration	2,786
Balance as of June 30, 2017	$	150,663