Fair Value Measurement of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2014

Summary of Company's Financial Instruments, Fair Value on a Recurring Basis

The following table summarizes the Company’s financial instruments measured at fair value on a recurring basis in accordance with the authoritative guidance for fair value measurements as of September 30, 2014 (in thousands):


Description	September 30, 2014		Level 1		Level 2		Level 3

Assets:
Cash equivalents
US Treasury securities	$	1	$	0	$	1	$	0

Total cash equivalents		1		0		1		0

Short-term marketable securities:
Available-for-sale:
Government agency securities		0		0		0		0
Municipal bonds		980		0		980		0
Certificates of deposit		4,117		0		4,117		0
Corporate debentures / bonds		0		0		0		0

Total short-term marketable securities		5,097		0		5,097		0


Long-term marketable securities:
Available-for-sale:
Government agency securities		0		0		0		0
Municipal bonds		261		0		261		0
Certificates of deposit		0		0		0		0
Corporate debentures / bonds		0		0		0		0

Total long-term marketable securities		261		0		261		0

Total financial assets	$	5,359	$	0	$	5,359	$	0

Liabilities:
Warrant liability	$	9,727	$	0	$	0	$	9,727


Description	December 31, 2013		Level 1		Level 2		Level 3

Assets:
Cash equivalents
US Treasury securities	$	487	$	0	$	487	$	0

Total cash equivalents		487		0		487		0

Short-term marketable securities:
Available-for-sale:
Government agency securities		2,351		0		2,351		0
Municipal bonds		2,829		0		2,829		0
Certificates of deposit		3,360		0		3,360		0
Corporate debentures / bonds		10,638		0		10,638		0

Total short-term marketable securities		19,178		0		19,178		0

Long-term marketable securities:
Available-for-sale:
Municipal bonds		0		0		0		0
Certificates of deposit		1,300		0		1,300		0
Corporate debentures / bonds		2,143		0		2,143		0

Total long-term marketable securities		3,443		0		3,443		0

Total financial assets	$	23,108	$	0	$	23,108	$	0

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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