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Other Balance Sheet Details | 12 Months Ended
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Dec. 31, 2016
Other Balance Sheet Details [Abstract] |
Other Balance Sheet Details | Balance Sheet Account Details Short-term Investments The following table summarizes the various investment categories at December 31, 2016 and 2015 (in thousands):
| Cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Estimated fair value
December 31, 2016 |  |  |  |  |  |  |
Short-term investments |  |  |  |  |  |  |
Bank deposits | $ | 40,715 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 40,734 |
Corporate bonds | 11,031 |  |  | — |  |  | (5 | ) |  | 11,026 |
Corporate equity securities | 1,512 |  |  | 1,542 |  |  | — |  |  | 3,054 |
Commercial paper | 33,074 |  |  | 2 |  |  | (9 | ) |  | 33,067 |
Agency bonds | 7,294 |  |  | 1 |  |  | — |  |  | 7,295 |
U.S. Government bonds | 7,508 |  |  | — |  |  | (1 | ) |  | 7,507 |
Municipal bonds | 19,624 |  |  | — |  |  | (11 | ) |  | 19,613 |
| $ | 120,758 |  |  | $ | 1,564 |  |  | $ | (26 | ) |  | $ | 122,296 |
December 31, 2015 |  |  |  |  |  |  |
Short-term investments |  |  |  |  |  |  |
Bank deposits | $ | 43,043 |  |  | $ | — |  |  | $ | (4 | ) |  | $ | 43,039 |
Corporate bonds | 41,238 |  |  | — |  |  | (35 | ) |  | 41,203 |
Commercial paper | 1,747 |  |  | — |  |  | — |  |  | 1,747 |
Asset backed securities | 10,020 |  |  | — |  |  | (5 | ) |  | 10,015 |
Corporate equity securities | 1,843 |  |  | 4,944 |  |  | — |  |  | 6,787 |
| $ | 97,891 |  |  | $ | 4,944 |  |  | $ | (44 | ) |  | $ | 102,791 |
Other current assets consist of the following (in thousands):
| December 31,
| 2016 |  | 2015
Prepaid expenses | $ | 1,864 |  |  | $ | 1,177 |
Other receivables | 311 |  |  | 731 |
| $ | 2,175 |  |  | $ | 1,908 |
Property and equipment is stated at cost and consists of the following (in thousands):
| December 31,
| 2016 |  | 2015
Lab and office equipment | $ | 1,067 |  |  | $ | 2,248 |
Leasehold improvements | 1,754 |  |  | 273 |
Computer equipment and software | 569 |  |  | 632 |
| 3,390 |  |  | 3,153 |
Less accumulated depreciation and amortization | (1,571 | ) |  | (2,781 | )
| $ | 1,819 |  |  | $ | 372 |
Depreciation of equipment is computed using the straight-line method over the estimated useful lives of the assets which range from three to ten years. Leasehold improvements are amortized using the straight-line method over their estimated useful lives or their related lease term, whichever is shorter. Depreciation expense of $0.2 million, $0.2 million, and $0.3 million was recognized for the years ended December 31, 2016, 2015, and 2014, respectively and is included in operating expenses. Goodwill and identifiable intangible assets consist of the following (in thousands):
| December 31,
| 2016 |  | 2015
Indefinite lived intangible assets |  |  |
IPR&D | $ | 12,246 |  |  | $ | 12,556 |
Goodwill | 72,207 |  |  | 12,238 |
Definite lived intangible assets |  |  |
Complete technology | 182,577 |  |  | 15,267 |
Less: Accumulated amortization | (12,792 | ) |  | (3,762 | )
Trade name | 2,642 |  |  | 2,642 |
Less: Accumulated amortization | (784 | ) |  | (652 | )
Customer relationships | 29,600 |  |  | 29,600 |
Less: Accumulated amortization | (8,784 | ) |  | (7,304 | )
Total goodwill and other identifiable intangible assets, net | $ | 276,912 |  |  | $ | 60,585 |
Amortization of finite lived intangible assets is computed using the straight-line method over the estimated useful life of the asset of 20 years. Amortization expense of $10.6 million, $2.4 million, and $2.4 million was recognized for the years ended December 31, 2016 and 2015, and 2014. Estimated amortization expense for the years ending December 31, 2017 through 2021 is $10.6 million per year. For each of the years ended December 31, 2016, 2015, and 2014, there was no impairment of intangible assets with finite lives. Commercial license rights consist of the following (in thousands):
| December 31, |  | December 31,
| 2016 |  | 2015
CorMatrix | $ | 17,696 |  |  | $ | — |
Selexis | 8,602 |  |  | 8,602 |
| 26,298 |  |  | 8,602 |
Less: accumulated amortization | (477 | ) |  | (48 | )
Total commercial rights, net | $ | 25,821 |  |  | $ | 8,554 |
Accrued liabilities consist of the following (in thousands):
| December 31,
| 2016 |  | 2015
Compensation | $ | 2,603 |  |  | $ | 1,711 |
Legal | 829 |  |  | 726 |
Amounts owed to former licensees | 899 |  |  | 915 |
Royalties owed to third parties | 942 |  |  | 823 |
Other | 1,124 |  |  | 1,230 |
| $ | 6,397 |  |  | $ | 5,405 |
In connection with the acquisition of CyDex in January 2011, we issued a series of CVRs and also assumed certain contingent liabilities. We may be required to make additional payments upon achievement of certain clinical and regulatory milestones to the CyDex shareholders and former license holders. We pay CyDex shareholders, through 2016, 20% of all CyDex-related revenue, but only to the extent that, and beginning only when, CyDex-related revenue for the year exceeds $15.0 million; plus an additional 10% of all CyDex-related revenue recognized during such year, but only to the extent, and beginning only when aggregate CyDex-related revenue for such year exceeds $35.0 million. In connection with the acquisition of Metabasis in January 2010, we entered into four CVR agreements with Metabasis shareholders. The CVRs entitle the holders to cash payments as frequently as every six months as proceeds are received by us upon the sale or licensing of any of the Metabasis drug development programs and upon the achievement of specified milestones. Contingent liabilities consist of the following (in millions):
| December 31, 2014 | Payments | Fair Value Adjustment | December 31, 2015 | Payments | Fair Value Adjustment | December 31, 2016
Cydex | $ | 11.5 |  | $ | (5.8 | ) | $ | 3.8 |  | $ | 9.5 |  | (6.2 | ) | $ | 3.3 |  | $ | 6.6 |
Metabasis | 3.7 |  | (0.9 | ) | 1.2 |  | 4.0 |  | (2.6 | ) | 0.1 |  | 1.5 |
Total | 15.2 |  | (6.7 | ) | 5.0 |  | 13.5 |  | (8.8 | ) | 3.4 |  | 8.1 |
Other long-term liabilities consist of the following (in thousands):
| December 31,
| 2016 |  | 2015
Deferred rent | $ | 357 |  |  | $ | — |
Deposits | 43 |  |  | 268 |
Other | 287 |  |  | 29 |
| $ | 687 |  |  | $ | 297 |

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