FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2014

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	)

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		Number of Shares at December 31,				Exercisable Date	Expiration Date	Fair Value at December 31,
Issuance Date	Exercise Price		2014		2013		Exercisable Date	Expiration Date	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.

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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