Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2015

Summary of Fair Value Measurements of Cash Equivalents, Available-for-Sale Securities and Contingent Consideration Liability

The fair value measurements of the Company’s cash equivalents, available-for-sale marketable securities and contingent consideration liability are identified at the following levels within the fair value hierarchy (in thousands):

	September 30, 2015
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents:
Money market funds	$	12,747	$	12,747	$	—	$	—
Total		12,747		12,747		—		—
Marketable securities:
Commercial paper securities		15,399		—		15,399		—
Corporate debt securities		29,217		—		29,217		—
U.S. government sponsored entity debt securities		140,426		—		140,426		—
Total		185,042		—		185,042		—
Total cash equivalents and marketable securities	$	197,789	$	12,747	$	185,042	$	—

	December 31, 2014
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents:
Money market funds	$	3,182	$	3,182	$	—	$	—
Total		3,182		3,182		—		—
Marketable securities:
Commercial paper securities		33,748		—		33,748		—
Corporate debt securities		22,813		—		22,813		—
U.S. government sponsored entity debt securities		163,631		—		163,631		—
Total		220,192		—		220,192		—
Total cash equivalents and marketable securities	$	223,374	$	3,182	$	220,192	$	—
Liabilities:
Contingent consideration liability	$	1,800	$	—	$	—	$	1,800
Total	$	1,800	$	—	$	—	$	1,800

Schedule of Changes in Estimated Fair Value of Contingent Consideration Liability

Fair value as of December 31, 2014	$	1,800
Change in fair value		(1,800	)
Fair value as of September 30, 2015	$	—