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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2016
Fair Value Measurements |
Schedule of fair value of assets and liabilities recorded at fair value on a recurring basis, by level within fair value hierarchy | The following tables present information as of December 31, 2016 and 2015 about the Company's assets that are measured at fair value on a recurring basis and indicate the level of the fair value hierarchy the Company utilized to determine such fair values (in thousands):
|  | December 31, 2016 |
|  | Fair Value Measured Using |  |  |
|  | Total Balance |
|  | (Level 1) |  | (Level 2) |  | (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 2,999 |  | $ | — |  | $ | — |  | $ | 2,999 |
Marketable securities |  |  | 129,846 |  |  | — |  |  | — |  |  | 129,846 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 132,845 |  | $ | — |  | $ | — |  | $ | 132,845 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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|  | December 31, 2015 |
|  | Fair Value Measured Using |  |  |
|  | Total Balance |
|  | (Level 1) |  | (Level 2) |  | (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 3,245 |  | $ | — |  | $ | — |  | $ | 3,245 |
Marketable securities |  |  | 90,281 |  |  | — |  |  | — |  |  | 90,281 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 93,526 |  | $ | — |  | $ | — |  | $ | 93,526 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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Summary of changes in fair value of the Level 3 financial instruments measured on a recurring basis | The following table presents the issuances, changes in fair value, exercise and reclassification of the Company's Level 3 financial instrument which is measured at fair value on a recurring basis (in thousands):
|  | Convertible Preferred Stock Call Option Liability |
Balance as of December 31, 2014 |  | $ | 2,600 |
Change in fair value of convertible preferred stock liability through date of Series A second tranche issuance |  |  | 17,600 |
Recognition of fair value upon issuance of second tranche Series A convertible preferred stock |  |  | (20,200 | )
​ | ​ | ​ | ​ | ​
Balance as of December 31, 2015 |  | $ | — |
​ | ​ | ​ | ​ | ​
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Schedule of fair value of available for sale marketable securities | As of December 31, 2016 and 2015, the fair value of available for sale marketable securities by type of security were as follows (in thousands):
|  | December 31, 2016 |
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |
U.S. Treasury securities |  | $ | 129,885 |  | $ | — |  | $ | (39 | ) | $ | 129,846 |
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|  | December 31, 2015 |
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |
U.S. Treasury securities |  | $ | 90,326 |  | $ | — |  | $ | (45 | ) | $ | 90,281 |
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- Definition Tabular disclosure of the fair value measurement of financial instruments classified in shareholders' equity 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 equity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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