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Fair value measurements (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Summary of Cash Equivalents and Marketable Securities Measured at Fair Value on a Recurring Basis

The following tables summarize the cash equivalents and marketable securities measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015:

	Level 1				Level 2				Level 3				Balance as of September 30, 2016
Cash equivalents	$	20,697,042			$	—			$	—			$	20,697,042
Marketable securities:
Corporate debt securities	—				11,418,230				—				11,418,230
U.S. government agency securities	—				28,086,033				—				28,086,033
	$	20,697,042			$	39,504,263			$	—			$	60,201,305

	Level 1				Level 2				Level 3				Balance as of December 31, 2015
Cash equivalents	$	58,575,348			$	1,410,322			$	—			$	59,985,670
Marketable securities:
Corporate debt securities	—				26,965,297				—				26,965,297
	$	58,575,348			$	28,375,619			$	—			$	86,950,967

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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 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 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 2: 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=66048111&loc=d3e19190-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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