Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

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, 2018 and December 31, 2017, for those assets and liabilities that we measure at fair value on a recurring basis (in thousands):



	Fair Value Measurements at June 30, 2018 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	$	3,158	$	3,158	$	—	$	—
Corporate debt securities	109,506		—		109,506		—
U.S. treasury and government agency securities	12,264		—		12,264		—
Certificates of deposit	9,450		—		9,450		—
Commercial paper	7,452		—		7,452		—
Total assets	$	141,830	$	3,158	$	138,672	$	—
Liabilities:
Contingent consideration - MuGard	$	841	$	—	$	—	$	841
Total liabilities	$	841	$	—	$	—	$	841



	Fair Value Measurements at December 31, 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	$	4,591	$	4,591	$	—	$	—
Corporate debt securities	116,152		—		116,152		—
U.S. treasury and government agency securities	9,291		—		9,291		—
Certificates of deposit	9,151		—		9,151		—
Commercial paper	1,999		—		1,999		—
Total assets	$	141,184	$	4,591	$	136,593	$	—
Liabilities:
Contingent consideration - Lumara Health	$	49,187	$	—	$	—	$	49,187
Contingent consideration - MuGard	898		—		—		898
Total liabilities	$	50,085	$	—	$	—	$	50,085

Schedule of reconciliation of contingent consideration obligations

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



Balance as of December 31, 2017	$	50,085
Payments made	(60		)
Adjustments to fair value of contingent consideration	(49,184		)
Balance as of June 30, 2018	$	841