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Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value of Financial Instruments

Schedule of estimated fair values of financial instruments outstanding

The estimated fair values of financial instruments outstanding were (in thousands):

		March 31, 2016
		Cost			Unrealized Gains			Unrealized Losses			Fair Value
Cash and cash equivalents		$	10,503		$	—		$	—		$	10,503
Short-term investments:
U.S. government-sponsored enterprise bonds		$	3,461		$	—		$	—		$	3,461
Corporate notes		6,921			—			—			6,921
Total short-term investments		$	10,382		$	—		$	—		$	10,382

		December 31, 2015
		Cost			Unrealized Gains			Unrealized Losses			Fair Value
Cash and cash equivalents		$	5,640		$	—		$	—		$	5,640
Short-term investments:
U.S. government-sponsored enterprise bonds		$	6,243		$	—		$	—		$	6,243
Municipal bonds		200			—			—			200
Corporate notes		8,171			—			(16		)	8,155
Total short-term investments		$	14,614		$	—		$	(16	)	$	14,598

Schedule of estimated fair values of available-for-sale securities with unrealized losses

The estimated fair values of available-for-sale securities with unrealized losses were (in thousands):

		December 31, 2015
		Cost			Unrealized Losses			Fair Value
Short-term investments:
Corporate notes		$	8,171		$	(16	)	$	8,155
Total short-term investments		$	8,171		$	(16	)	$	8,155

Schedule of fair value hierarchy for financial assets (cash equivalents and investments)

The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments) as of March 31, 2016 and December 31, 2015 (in thousands):

		March 31, 2016
		Fair Value			Level 1			Level 2			Level 3
Money market funds		$	2,721		$	2,721		$	—		$	—
U.S. government-sponsored enterprise bonds		4,552			—			4,552			—
Corporate notes		10,571			—			10,571			—
Total assets		$	17,844		$	2,721		$	15,123		$	—

		December 31, 2015
		Fair Value			Level 1			Level 2			Level 3
Money market funds		$	2,238		$	2,238		$	—		$	—
U.S. government-sponsored enterprise bonds		7,525			—			7,525			—
Municipal bonds		200			—			200			—
Corporate notes		8,255			—			8,255			—
Certificates of deposit		240			—			240			—
Total assets		$	18,458		$	2,238		$	16,220		$	—

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- Definition

Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities.

+ References

No definition available.

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

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- Definition

Tabular disclosure of the summary of investment holdings.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-12C)
-URI http://asc.fasb.org/extlink&oid=34726532&loc=d3e611225-123010

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12C
-Article 12

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