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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Financial Assets Measured at Fair Value on a Recurring Basis
Financial assets measured at fair value on a recurring basis were as follows (in thousands):
 
Fair Value Measurements at June 30, 2017
 
 
 
Quoted Prices in Active Markets for Identical Assets
 
Significant Other Observable Inputs
 
Significant Unobservable Inputs
 
Total
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
Money market funds
$
92,815

 
$
92,815

 
$
—

 
$
—

U.S. Treasury securities
13,782

 
—

 
13,782

 
—

Government-sponsored enterprises
26,129

 
—

 
26,129

 
—

Corporate debt securities
87,122

 
—

 
87,122

 
—

Total assets measured at fair value(a)
$
219,848

 
$
92,815

 
$
127,033

 
$
—

(a) Total assets measured at fair value at June 30, 2017 includes approximately $92.8 million reported in cash and cash equivalents on the balance sheet.
 
Fair Value Measurements at December 31, 2016
 
 
 
Quoted Prices in Active Markets for Identical Assets
 
Significant Other Observable Inputs
 
Significant Unobservable Inputs
 
Total
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
Money market funds
$
46,781

 
$
46,781

 
$
—

 
$
—

U.S. Treasury securities
8,826

 
—

 
8,826

 
—

Government-sponsored enterprises
29,759

 
—

 
29,759

 
—

Corporate debt securities
166,300

 
—

 
166,300

 
—

Total assets measured at fair value(a)
$
251,666

 
$
46,781

 
$
204,885

 
$
—

(a) Total assets measured at fair value at December 31, 2016 includes approximately $50.8 million reported in cash and cash equivalents on the balance sheet.