Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Contingent Purchase Price Consideration, Measured at Estimated Fair Value on Recurring Basis



Description	December 31, 2013		Quoted Prices In Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	42,349	$	42,349	$	—	$	—
Marketable securities	—		—		—		—
Total assets measured and recorded at fair value	$	42,349	$	42,349	$	—	$	—
Liabilities:
Warrants potentially settleable in cash	$	48,965	$	—	$	48,965	$	—
Contingent purchase price consideration	6,821		—		—		6,821
Total liabilities measured and recorded at fair value	$	55,786	$	—	$	48,965	$	6,821



Description	December 31, 2012		Quoted Prices In Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	32,431	$	32,431	$	—	$	—
Marketable securities	2,678		2,678		—		—
Total assets measured and recorded at fair value	$	35,109	$	35,109	$	—	$	—
Liabilities:
Warrants potentially settleable in cash	$	10,964	$	—	$	10,964	$	—
Contingent purchase price consideration	7,142		—		—		7,142
Total liabilities measured and recorded at fair value	$	18,106	$	—	$	10,964	$	7,142

Reconciliation of Level 3 Liabilities

A reconciliation of the beginning and ending Level 3 liabilities for the years ended December 31, 2013 and 2012 is as follows (in thousands):



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Balance, January 1, 2012	$	6,351
Milestone payment	(1,579		)
Change in the estimated fair value of the contingent purchase price consideration	2,370
Balance, December 31, 2012	7,142
Milestone payment	(1,247		)
Change in the estimated fair value of the contingent purchase price consideration	926
Balance at December 31, 2013	$	6,821

- 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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