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FAIR VALUE DISCLOSURE | 9 Months Ended
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Sep. 30, 2017
Fair Value Disclosures [Abstract] |
FAIR VALUE DISCLOSURE | FAIR VALUE MEASUREMENTS The Company records its financial assets and liabilities at fair value. The Company categorizes these assets and liabilities based upon the level of judgment associated with inputs used to measure the fair value. The categories are as follows:
Level 1 |  | Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.
Level 2 |  | Observable prices that are based on inputs not quoted on active markets, but corroborated by market data.
Level 3 |  | Unobservable inputs are used when little or no market data is available.
The Company classified its cash equivalents and short-term marketable investments within Level 1 and Level 2 in the fair value hierarchy as of September 30, 2017 and December 31, 2016, respectively. Level 1 assets include highly liquid money market funds that are included in cash equivalents. The Company classifies these instruments within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. Level 2 assets include U.S. treasuries, corporate securities, agency securities and commercial paper. The Company classifies these instruments within Level 2 of the fair value hierarchy because they are valued based on pricing obtained from an independent pricing service, which may use quoted market prices for identical or comparable instruments or model driven valuations using observable market date or inputs corroborated by observable market data. The Company classifies these instruments as short-term investments unless their maturities are three months or less when purchased, in which case the Company includes them in cash and cash equivalents. The Company uses inputs such as actual trade data, benchmark yields, broker/dealer quotes or alternative pricing sources with reasonable levels of price transparency, which the Company obtains from quoted market prices, independent pricing vendors, or other sources, to determine the ultimate fair value of these assets. As of September 30, 2017, the Company held an investment in a privately held company, which the Company classified as a Level 3 investment in the fair value hierarchy (Note 3). The components of the Company’s Level 1 and Level 2 assets are as follows:
| September 30, 2017
| Amortized Cost |  | Gross Unrealized Gain (Loss) |  | Estimated Fair Value |  | Cash equivalents |  | Short-term investments
| (in thousands)
Level 1: |  |  |  |  |  |  |  |  |
Money market funds | 9,911 |  |  | — |  |  | 9,911 |  |  | 9,911 |  |  | — |
| $ | 9,911 |  |  | $ | — |  |  | $ | 9,911 |  |  | $ | 9,911 |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |
U.S. treasuries | 29,974 |  |  | (5 | ) |  | 29,969 |  |  | 5,997 |  |  | 23,972 |
Corporate securities | 11,151 |  |  | (4 | ) |  | 11,147 |  |  | — |  |  | 11,147 |
Commercial paper | 13,945 |  |  | — |  |  | 13,945 |  |  | — |  |  | 13,945 |
| $ | 55,070 |  |  | $ | (9 | ) |  | $ | 55,061 |  |  | $ | 5,997 |  |  | $ | 49,064 |
Total | $ | 64,981 |  |  | $ | (9 | ) |  | $ | 64,972 |  |  | $ | 15,908 |  |  | $ | 49,064 |
| December 31, 2016
| Amortized Cost |  | Gross Unrealized Gain (Loss) |  | Estimated Fair Value |  | Cash equivalents |  | Short-term investments
| (in thousands)
Level 1: |  |  |  |  |  |  |  |  |
Money market funds | 25,244 |  |  | — |  |  | 25,244 |  |  | 25,244 |  |  | — |
| $ | 25,244 |  |  | $ | — |  |  | $ | 25,244 |  |  | $ | 25,244 |  |  | — |
Level 2: |  |  |  |  |  |  |  |  |
U.S. treasuries | 22,516 |  |  | (19 | ) |  | 22,497 |  |  | — |  |  | 22,497 |
Corporate securities | 7,353 |  |  | (12 | ) |  | 7,341 |  |  | — |  |  | 7,341 |
Commercial paper | 12,570 |  |  | — |  |  | 12,570 |  |  | — |  |  | 12,570 |
| $ | 42,439 |  |  | $ | (31 | ) |  | $ | 42,408 |  |  | $ | — |  |  | 42,408 |
Total | $ | 67,683 |  |  | $ | (31 | ) |  | $ | 67,652 |  |  | $ | 25,244 |  |  | $ | 42,408 |
All short-term investments the Company held as of September 30, 2017 and December 31, 2016, contractually mature within one year from these respective dates. Unrealized gains and losses related to these investments are due to interest rate fluctuations as opposed to credit quality. In addition, the Company does not intend to sell, and it is not more likely than not that the Company would be required to sell, these investments before recovery of their cost basis. As a result, there was no other-than-temporary impairment for these investments as of September 30, 2017 and December 31, 2016.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -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 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13537-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13504-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + Details
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