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Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2017
Financial Instruments  
Summary of assets measured at fair value on a recurring basis

 

The Company determines the fair value of U.S. reverse repurchase agreements, corporate debt securities, and available-for-sale securities using Level 2 inputs. Below is a summary of assets measured at fair value on a recurring basis (in thousands):

 

 

 

As of June 30, 2017

 

 

 

Quoted Prices
in Active
Markets
(Level 1)

 

Significant
Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

Total

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$
17,466

 

$

—

 

$

—

 

$
17,466

 

Corporate debt securities

 

—

 
4,008

 

—

 
4,008

 

U.S. reverse repurchase agreements

 

—

 
6,000

 

—

 
6,000

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$
17,466

 

$
10,008

 

$

—

 

$
27,474

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2016

 

 

 

Quoted Prices
in Active
Markets
(Level 1)

 

Significant
Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

Total

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$
22,423

 

$

—

 

$

—

 

$
22,423

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

—

 
13,930

 

—

 
13,930

 

U.S. government-sponsored securities

 

—

 
1,001

 

—

 
1,001

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$
22,423

 

$
14,931

 

$

—

 

$
37,354