Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2014

Notes to Financial Statements

Fair Value Measurement (Tables)

In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company's financial assets (all marketable investment securities) that are required to be measured at fair value as of December 31, 2014 and December 31, 2013 (in thousands):

As of December 31, 2014:		Level 1		Level 2		Level 3		Total
Certificate of deposits	$	-	$	6,615	$	-	$	6,615
Corporate debt		-		88,733		-		88,733
Gevernment agency debt		-		3,278		-		3,278
Money market funds		42,349		-		-		42,349
Total assets at fair value	$	42,349	$	98,626	$	-	$	140,975

As of December 31, 2013:		Level 1		Level 2		Level 3		Total
Certificate of deposits	$	-	$	13,020	$	-	$	13,020
Corporate debt		-		91,887		-		91,887
Gevernment agency debt		-		27,131		-		27,131
Money market funds		23,043		-		-		23,043
Total assets at fair value	$	23,043	$	132,038	$	-	$	155,081

Fair and Carrying Value of Debt Instruments

The fair and carrying value of our debt instruments are detailed as follows (in thousands):

	As of December 31, 2014				As of December 31, 2013
	Fair		Carrying		Fair		Carrying
	Value		Value		Value		Value
5.75% Convertible Notes	$	-	$	-	$	92,338	$	16,545
Sensipar Notes		26,312		26,230		54,097		54,395
PTH 1-84-Secured Debt		54,730		42,790		50,058		42,790
Regpara-Secured Debt		29,249		30,986		37,348		35,202
Total	$	110,291	$	100,006	$	233,841	$	148,932