Marketable Securities

6 Months Ended

Jun. 30, 2013

3.	Marketable Securities

The Company has classified its marketable securities as available-for-sale and, accordingly, carries such securities at fair value. At June 30, 2013, all of the Company’s marketable securities consisted of United States government or agency securities.

At June 30, 2013, the aggregate fair value and amortized cost of the Company’s marketable securities were $20,016,000 and $20,008,000, respectively. Gross unrealized gains were $8,000 at June 30, 2013 and are included in accumulated other comprehensive income (loss) in the condensed consolidated balance sheet.

At December 31, 2012, the aggregate fair value and amortized cost of the Company’s marketable securities were $45,035,000 and $45,015,000, respectively. Gross unrealized gains were $20,000 at December 31, 2012 and are included in accumulated other comprehensive income (loss) in the condensed consolidated balance sheet.