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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value

The following table presents the fair value of the Company’s financial assets and liabilities determined using the inputs defined above (amounts in thousands).

 

     December 31, 2016  
     Level 1      Level 2      Level 3      Total  

Assets:

            

Money market funds

    $ 11,270      $ —      $ —      $ 11,270  

Corporate bonds

      —        21,841        —        21,841  

Commercial paper

      —        10,769        —        10,769  

Governmental bonds

      —        41,289        —        41,289  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total financial assets

    $ 11,270      $ 73,899      $ —      $ 85,169  
  

 

 

     

 

 

     

 

 

     

 

 

  
     December 31, 2015  
     Level 1      Level 2      Level 3      Total  

Assets:

            

Money market funds

    $ 2,136      $ —      $ —      $ 2,136  

Corporate bonds

      —        7,368        —        7,368  

Commercial paper

      —        500        —        500  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total financial assets

    $ 2,136      $ 7,868      $ —      $ 10,004  
  

 

 

     

 

 

     

 

 

     

 

 

  

Liabilities:

            

Redeemable convertible preferred stock tranche liability

    $ —      $ —      $ 1,643      $ 1,643  

Redeemable convertible preferred stock warrant liability

      —        —        480        480  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total financial liabilities

    $ —      $ —      $ 2,123      $ 2,123  
  

 

 

     

 

 

     

 

 

     

 

 

  
Summary of Changes in Fair Value of Company's Level 3 Financial Instruments

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial instruments as follows (in thousands):

 

     Year Ended
December 31,		  
     2016     2015  

Redeemable Convertible Preferred Stock Tranche Liability:

     

Beginning balance

    $ 1,643     $ —    

Issuance of Series C redeemable convertible preferred stock tranche liability

      —         1,017  

Change in fair value upon revaluation

      4,194       626  

Settlement of redeemable convertible preferred stock tranche liability due to the issuance of Series C redeemable convertible preferred stock

      (5,837 )      —  
  

 

 

    

 

 

  

Ending balance

    $ —       $ 1,643  
  

 

 

    

 

 

  
     Year Ended
December 31,		  
     2016     2015  

Redeemable Convertible Preferred Stock Warrant Liability:

     

Beginning balance

    $ 480     $ 1,023  

Change in fair value upon revaluation

      525       (543 ) 

Reclassification of redeemable convertible preferred stock warrant liability to redeemable convertible preferred stock

      (1,005 )      —  
  

 

 

    

 

 

  

Ending balance

    $ —     $ 480