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Fair Value Measurements (Tables)
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12 Months Ended |
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Dec. 31, 2012
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| Fair Value Measurements [Abstract] |
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| Assets measured at fair value on recurring basis |
The following tables present our money market funds; included in cash and cash equivalents; and auction rate securities measured at fair value on a recurring basis as of December 31, 2012 and 2011, classified by valuation hierarchy:
F- PROGENICS PHARMACEUTICALS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ¾ continued (amounts in thousands, except per share amounts or as otherwise noted)
| | | | | Fair Value Measurements at December 31, 2012 | | | | Balance at December 31, 2012 | | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | | Significant Other Observable Inputs (Level 2) | | | Significant Unobservable Inputs (Level 3) | | | | | | | | | | | | | | | Money market funds | | $ | 56,224 | | | $ | 56,224 | | | $ | - | | | $ | - | | Auction rate securities | | | 3,240 | | | | - | | | | - | | | | 3,240 | | Total | | $ | 59,464 | | | $ | 56,224 | | | $ | - | | | $ | 3,240 | |
| | | | | Fair Value Measurements at December 31, 2011 | | | | Balance at December 31, 2011 | | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | | Significant Other Observable Inputs (Level 2) | | | Significant Unobservable Inputs (Level 3) | | | | | | | | | | | | | | | Money market funds | | $ | 64,068 | | | $ | 64,068 | | | $ | - | | | $ | - | | Auction rate securities | | | 3,332 | | | | - | | | | - | | | | 3,332 | | Total | | $ | 67,400 | | | $ | 64,068 | | | $ | - | | | $ | 3,332 | |
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| Summary of activities in financial instruments with Level 3 inputs |
For our financial instruments with significant Level 3 inputs (all of which are auction rate securities), the following table summarizes the activities for 2012 and 2011:
F- PROGENICS PHARMACEUTICALS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ¾ continued (amounts in thousands, except per share amounts or as otherwise noted)
| | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | | Description | | 2012 | | | 2011 | | Balance at beginning of period | | $ | 3,332 | | | $ | 3,608 | | Transfers into Level 3 | | | - | | | | - | | Total realized/unrealized gains (losses) | | | | | | | | | Included in net income (loss) | | | - | | | | - | | Included in comprehensive income (loss) | | | 8 | | | | 24 | | Settlements | | | (100 | ) | | | (300 | ) | Balance at end of period | | $ | 3,240 | | | $ | 3,332 | | Total amount of unrealized gains (losses) for the period included in other comprehensive loss attributable to the change in fair market value of related assets still held at the reporting date | | $ | - | | | $ | - | |
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| Schedule of amortized cost basis, the aggregate fair value and gross unrealized holdings |
The following tables summarize the amortized cost basis, the aggregate fair value and gross unrealized holding gains and losses at December 31, 2012 and 2011:
| | Amortized | | | Fair | | | Unrealized Holding | | 2012: | | Cost Basis | | | Value | | | Gains | | | (Losses) | | | Net | | Maturities greater than ten years: | | | | | | | | | | | | | | | | Auction rate securities | | $ | 2,500 | | | $ | 2,300 | | | $ | - | | | $ | (200 | ) | | $ | (200 | ) | Investments without stated maturity dates: | | | | | | | | | | | | | | | | | | | | | Auction rate securities | | | 1,000 | | | | 940 | | | | - | | | | (60 | ) | | | (60 | ) | | | $ | 3,500 | | | $ | 3,240 | | | $ | - | | | $ | (260 | ) | | $ | (260 | ) |
| | Amortized | | | Fair | | | Unrealized Holding | | 2011: | | Cost Basis | | | Value | | | Gains | | | (Losses) | | | Net | | Maturities greater than ten years: | | | | | | | | | | | | | | | | Auction rate securities | | $ | 2,600 | | | $ | 2,392 | | | $ | - | | | $ | (208 | ) | | $ | (208 | ) | Investments without stated maturity dates: | | | | | | | | | | | | | | | | | | | | | Auction rate securities | | | 1,000 | | | | 940 | | | | - | | | | (60 | ) | | | (60 | ) | | | $ | 3,600 | | | $ | 3,332 | | | $ | - | | | $ | (268 | ) | | $ | (268 | ) |
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| Schedule of gross unrealized losses and fair value of our marketable securities |
The following table shows the gross unrealized losses and fair value of our auction rate securities with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2012 and 2011.
F- PROGENICS PHARMACEUTICALS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ¾ continued (amounts in thousands, except per share amounts or as otherwise noted)
2012: | | Less than 12 Months | | | 12 Months or Greater | | | Total | | Description of Securities | | Fair Value | | | Unrealized Losses | | | Fair Value | | | Unrealized Losses | | | Fair Value | | | Unrealized Losses | | | | | | | | | | | | | | | | | | | | | Auction rate securities | | $ | - | | | $ | - | | | $ | 3,240 | | | $ | (260 | ) | | $ | 3,240 | | | $ | (260 | ) | Total | | $ | - | | | $ | - | | | $ | 3,240 | | | $ | (260 | ) | | $ | 3,240 | | | $ | (260 | ) |
2011: | | Less than 12 Months | | | 12 Months or Greater | | | Total | | Description of Securities | | Fair Value | | | Unrealized Losses | | | Fair Value | | | Unrealized Losses | | | Fair Value | | | Unrealized Losses | | | | | | | | | | | | | | | | | | | | | Auction rate securities | | $ | - | | | $ | - | | | $ | 3,332 | | | $ | (268 | ) | | $ | 3,332 | | | $ | (268 | ) | Total | | $ | - | | | $ | - | | | $ | 3,332 | | | $ | (268 | ) | | $ | 3,332 | | | $ | (268 | ) |
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