CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

6 Months Ended

Jun. 30, 2015

Cash and Cash Equivalents [Abstract]

CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

4. CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

It is the Company’s policy to mitigate credit risk in its financial assets by maintaining a well-diversified portfolio that limits the amount of exposure as to maturity and investment type. The weighted average maturity of the Company’s available-for-sale securities as of June 30, 2015 and December 31, 2014 was less than 3 and 4 months, respectively.

The following tables summarize the Company’s cash, cash equivalents and short-term investments for each of the periods indicated:

	As of June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
	(in thousands)
Cash and money market funds	$	67,163	$	—	$	—		$	67,163
Commercial paper		13,372		—		(3	)		13,369
Government and government agency bonds		47,954		—		(2	)		47,952
Corporate bonds		28,417		—		(14	)		28,403
Total assets	$	156,906	$	—	$	(19	)	$	156,887
As reported:
Cash and cash equivalents	$	69,538	$	—	$	—		$	69,538
Short-term investments		87,368		—		(19	)		87,349
Total assets	$	156,906	$	—	$	(19	)	$	156,887

	As of December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
	(in thousands)
Cash and money market funds	$	73,551	$	—	$	—			73,551
Commercial paper		2,997		—		—			2,997
Government and government agency bonds		75,289		—		(39	)		75,250
Corporate bonds		58,602		—		(56	)		58,546
Total assets	$	210,439	$	—	$	(95	)		210,344
As reported:
Cash and cash equivalents	$	73,551	$	—	$	—			73,551
Short-term investments		136,888		—		(95	)		136,793
Total assets	$	210,439	$	—	$	(95	)		210,344