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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2014
FAIR VALUE MEASUREMENTS |
Schedule of cash equivalents, restricted cash and marketable securities by security type | Cash equivalents, restricted cash and marketable securities by security type at December 31, 2014 were as follows:
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |
Included in cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 40,342 |  | $ | — |  | $ | — |  | $ | 40,342 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Restricted cash: |  |  |  |  |  |  |  |  |  |  |  |  |
Certificate of deposit |  | $ | 266 |  | $ | — |  | $ | — |  | $ | 266 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities (due in less than 1 year) |  | $ | 401 |  | $ | — |  | $ | (1 | ) | $ | 400 |
Government-sponsored enterprise securities (due in 1 to 2 years) |  |  | 6,556 |  |  | — |  |  | (7 | ) |  | 6,549 |
Commercial paper (due in less than 1 year) |  |  | 10,985 |  |  | 14 |  |  | — |  |  | 10,999 |
Corporate notes (due in less than 1 year) |  |  | 97,307 |  |  | 2 |  |  | (63 | ) |  | 97,246 |
Corporate notes (due in 1 to 2 years) |  |  | 12,412 |  |  | — |  |  | (29 | ) |  | 12,383 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 127,661 |  | $ | 16 |  | $ | (100 | ) | $ | 127,577 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash equivalents, restricted cash and marketable securities by security type at December 31, 2013 were as follows:
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |
Included in cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 8,079 |  | $ | — |  | $ | — |  | $ | 8,079 |
Corporate notes |  |  | 2,206 |  |  | — |  |  | — |  |  | 2,206 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 10,285 |  | $ | — |  | $ | — |  | $ | 10,285 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Restricted cash: |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | 795 |  | $ | — |  | $ | — |  | $ | 795 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities (due in less than 1 year) |  | $ | 7,369 |  | $ | 1 |  | $ | (1 | ) | $ | 7,369 |
Commercial paper (due in less than 1 year) |  |  | 5,496 |  |  | 3 |  |  | — |  |  | 5,499 |
Corporate notes (due in less than 1 year) |  |  | 39,383 |  |  | 1 |  |  | (18 | ) |  | 39,366 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 52,248 |  | $ | 5 |  | $ | (19 | ) | $ | 52,234 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of marketable securities with unrealized losses |
|  | Less Than 12 Months |  | 12 Months or Greater |  | Total |
(In thousands) |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |
As of December 31, 2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities (due in less than 1 year) |  | $ | 400 |  | $ | (1 | ) | $ | — |  | $ | — |  | $ | 400 |  | $ | (1 | )
Government-sponsored enterprise securities (due in 1 to 2 years) |  |  | 5,549 |  |  | (7 | ) |  | — |  |  | — |  |  | 5,549 |  |  | (7 | )
Corporate notes (due in less than 1 year) |  |  | 92,989 |  |  | (63 | ) |  | — |  |  | — |  |  | 92,989 |  |  | (63 | )
Corporate notes (due in 1 to 2 years) |  |  | 12,383 |  |  | (29 | ) |  | — |  |  | — |  |  | 12,383 |  |  | (29 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 111,321 |  | $ | (100 | ) | $ | — |  | $ | — |  | $ | 111,321 |  | $ | (100 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of December 31, 2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities (due in less than 1 year) |  | $ | 3,947 |  | $ | (1 | ) | $ | — |  | $ | — |  | $ | 3,947 |  | $ | (1 | )
Corporate notes (due in less than 1 year) |  |  | 37,060 |  |  | (18 | ) |  | — |  |  | — |  |  | 37,060 |  |  | (18 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 41,007 |  | $ | (19 | ) | $ | — |  | $ | — |  | $ | 41,007 |  | $ | (19 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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Schedule of non-employee options to purchase common stock considered as derivatives and classified as current liabilities |
|  |  |  | Number of Shares at December 31, |  |  |  |  |  | Fair Value at December 31, |
|  | Exercise Price |  | Exercisable Date |  | Expiration Date |
Issuance Date |  | 2014 |  | 2013 |  | 2014 |  | 2013 |
|  |  |  |  |  |  |  |  |  |  |  | (In thousands) |
March 2005 |  | $ | 6.39 |  |  | 284,600 |  |  | 284,600 |  | January 2007 |  | March 2015 |  | $ | 16 |  | $ | 367 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of assumptions used to estimate the fair value of derivatives |
|  | December 31,
|  | 2014 |  | 2013
Dividend yield |  | 0% |  | 0%
Expected volatility |  | 0.895 |  | 0.844
Risk-free interest rate |  | 0.04% |  | 0.13%
Expected term |  | 0.25 yr |  | 1 yr
Schedule of financial instruments measured at fair value on recurring basis | The following table presents information about our financial instruments that are measured at fair value on a recurring basis as of December 31, 2014 and indicates the fair value category assigned.
|  | Fair Value Measurements at Reporting Date Using |
|  | Quoted Prices in Active Markets for Identical Assets / Liabilities |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |  |  |
(In thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds(1) |  | $ | 40,342 |  | $ | — |  | $ | — |  | $ | 40,342 |
Government-sponsored enterprise securities(2)(3) |  |  | — |  |  | 6,949 |  |  | — |  |  | 6,949 |
Commercial paper(2) |  |  | — |  |  | 10,999 |  |  | — |  |  | 10,999 |
Corporate notes(2)(3) |  |  | — |  |  | 109,629 |  |  | — |  |  | 109,629 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 40,342 |  | $ | 127,577 |  | $ | — |  | $ | 167,919 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives(4) |  | $ | — |  | $ | — |  | $ | 16 |  | $ | 16 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
The following table presents information about our financial instruments that are measured at fair value on a recurring basis as of December 31, 2013 and indicates the fair value category assigned.
|  | Fair Value Measurements at Reporting Date Using |
|  | Quoted Prices in Active Markets for Identical Assets / Liabilities |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |  |  |
(In thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds(1) |  | $ | 8,079 |  | $ | — |  | $ | — |  | $ | 8,079 |
Government-sponsored enterprise securities(2) |  |  | — |  |  | 7,369 |  |  | — |  |  | 7,369 |
Commercial paper(2) |  |  | — |  |  | 5,499 |  |  | — |  |  | 5,499 |
Corporate notes(1)(2) |  |  | — |  |  | 41,572 |  |  | — |  |  | 41,572 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 8,079 |  | $ | 54,440 |  | $ | — |  | $ | 62,519 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives(4) |  | $ | — |  | $ | — |  | $ | 367 |  | $ | 367 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | Included in cash and cash equivalents on our consolidated balance sheets.
(2) | Included in current portion of marketable securities on our consolidated balance sheets.
(3) | Included in noncurrent portion of marketable securities on our consolidated balance sheets.
(4) | Included in fair value of derivatives on our consolidated balance sheets.
Schedule of rollforward of the balance sheet amounts for financial instruments in Level 3 category |
|  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Year Ended December 31, 2014 |
(In thousands) |  | Fair Value at December 31, 2013 |  | Total Unrealized Gain Included in Earnings(1) |  | Purchases, Sales, Issuances, Settlements |  | Transfers In and/or Out of Level 3 |  | Fair Value at December 31, 2014 |  | Change in Unrealized Gain Related to Financial Instruments Held at December 31, 2014(1) |
Derivative liabilities |  | $ | 367 |  | $ | (351 | ) | $ | — |  | $ | — |  | $ | 16 |  | $ | (351 | )
(1) | Reported as unrealized gain on derivatives in our consolidated statements of operations.

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