Marketable Securities and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-Sale Marketable Securities

The available for sale marketable securities as of September 30, 2016 and December 31, 2015 consist of the following (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
September 30, 2016:
U.S. treasuries	$	53,376	$	152	$	(12	)	$	53,516
Mutual funds	500		9		—			509
Total investments	$	53,876	$	161	$	(12	)	$	54,025
December 31, 2015:
U.S. treasuries	$	64,226	$	9	$	(144	)	$	64,091
Mutual funds	500		4		—			504
Total investments	$	64,726	$	13	$	(144	)	$	64,595

Summary of Financial Assets Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis (in thousands):

	Total Fair Value		Level I		Level II		Level III
September 30, 2016:
Certificates of deposit	$	2,319	$	2,319	$	—	$	—
U.S. treasuries	53,516		53,516		—		—
Mutual funds	509		509		—		—
Total	$	56,344	$	56,344	$	—	$	—
December 31, 2015:
Certificates of deposit	$	2,319	$	2,319	$	—	$	—
U.S. treasuries	64,091		64,091		—		—
Mutual funds	504		504		—		—
Total	$	66,914	$	66,914	$	—	$	—