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Marketable Investments (Tables)

9 Months Ended

Sep. 30, 2017

Investments Debt And Equity Securities [Abstract]

Summary of Company's Marketable Investments

The following table summarizes the Company’s marketable investments (in thousands):

		As of  September 30, 2017
						Gross				Gross
		Amortized				Unrealized				Unrealized				Market
		Cost				Gains				Losses				Value
Federal agency obligations		$	1,800			$	—			$	(4	)		$	1,796
Corporate obligations			52,277				7				(61	)			52,223
Total		$	54,077			$	7			$	(65	)		$	54,019

		As of December 31, 2016
						Gross				Gross
		Amortized				Unrealized				Unrealized				Market
		Cost				Gains				Losses				Value
Federal agency obligations		$	1,800			$	—			$	(7	)		$	1,793
Corporate obligations			59,481				2				(129	)			59,354
Total		$	61,281			$	2			$	(136	)		$	61,147

Summary of Maturity Periods of Marketable Investments

The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of September 30, 2017 (in thousands).

		FY 2017				FY 2018				FY 2019				Total
Federal agency obligations		$	—			$	1,796			$	—			$	1,796
Corporate obligations			4,000				28,559				19,664				52,223
Total		$	4,000			$	30,355			$	19,664			$	54,019

Summary of Gross Unrealized Losses and Market Value of Available-for-Sale Securities with Unrealized Losses

The following table shows the gross unrealized losses and market value of the Company’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):

		As of  September 30, 2017
		Less Than 12 Months								12 Months or Greater
		Market				Unrealized				Market				Unrealized
		Value				Losses				Value				Losses
Federal agency obligations		$	-			$	—			$	1,796			$	4
Corporate obligations			25,039				30				17,640				31
Total		$	25,039			$	30			$	19,436			$	35

		As of December 31, 2016
		Less Than 12 Months								12 Months or Greater
		Market				Unrealized				Market				Unrealized
		Value				Losses				Value				Losses
Federal agency obligations		$	1,793			$	7			$	—			$	—
Corporate obligations			53,647				129				—				—
Total		$	55,440			$	136			$	—			$	—

Summary of Company's Fair Value Hierarchy for its Financial Assets

The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments) measured at fair value on a recurring basis (in thousands):

		As of  September 30, 2017
		Level 1				Level 2				Level 3				Total
Money market funds (1)		$	763			$	—			$	—			$	763
Federal agency obligations			—				1,796				—				1,796
Corporate obligations			—				52,223				—				52,223
Total		$	763			$	54,019			$	—			$	54,782

		As of December 31, 2016
		Level 1				Level 2				Level 3				Total
Money market funds (1)		$	2,522			$	—			$	—			$	2,522
Federal agency obligations			—				1,793				—				1,793
Corporate obligations			—				59,354				—				59,354
Total		$	2,522			$	61,147			$	—			$	63,669

(1) Included in cash and cash equivalents. 

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