Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

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

	Fair Value Measurements at December 31, 2018 Using:
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	71,568	$	71,568	$	—	$	—
Corporate debt securities	113,097		—		113,097		—
U.S. treasury and government agency securities	10,323		—		10,323		—
Commercial paper	3,995		—		3,995		—
Certificates of deposit	13,500		—		13,500		—
Total Assets	$	212,483	$	71,568	$	140,915	$	—
Liabilities:
Contingent consideration - Lumara Health	$	—	$	—	$	—	$	—
Contingent consideration - MuGard	359		—		—		359
Total Liabilities	$	359	$	—	$	—	$	359

	Fair Value Measurements at December 31, 2017 Using:
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (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		—
Commercial paper	1,999		—		1,999		—
Certificates of deposit	9,151		—		9,151		—
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 and the MuGard Rights (in thousands):

Balance as of January 1, 2017	$	147,995
Payments made	(50,224		)
Adjustments to fair value of contingent consideration	(47,686		)
Balance as of December 31, 2017	$	50,085
Payments made	(119		)
Adjustments to fair value of contingent consideration	(49,607		)
Balance as of December 31, 2018	$	359