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Fair value of financial instruments and marketable securities (Tables)
 9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Schedule of financial assets and liabilities that are required to be measured at fair value on a recurring basis
The following represents the fair value using the hierarchy described above for the Company’s financial assets and liabilities that are required to be measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016:
 
 
 
September 30, 2017
 
 
Total
 
Quoted prices
in active
markets for
identical assets
(level 1)
 
Significant
other
observable
inputs
(level 2)
 
Significant
unobservable
inputs
(level 3)
Marketable securities
 
$
27,472

 
$
—

 
$
27,472

 
$
—

Warrant liability
 
$
4

 
$
—

 
$
—

 
$
4

Stock appreciation rights liability
 
$
1,723

 
$
—

 
$
—

 
$
1,723


 
 
December 31, 2016
 
 
Total
 
Quoted prices
in active
markets for
identical assets
(level 1)
 
Significant
other
observable
inputs
(level 2)
 
Significant
unobservable
inputs
(level 3)
Marketable securities
 
$
173,345

 
$
—

 
$
173,345

 
$
—

Warrant Liability
 
$
1

 
$
—

 
$
—

 
$
1

Stock appreciation rights liability
 
$
865

 
$
—

 
$
—

 
$
865
Summary of marketable securities accounted for as available-for-sale securities
The following is a summary of marketable securities accounted for as available-for-sale securities at September 30, 2017 and December 31, 2016:
 
 
September 30, 2017
 
 
Amortized
Cost
 
Gross Unrealized
 
Fair
Value
 
 
 
Gains
 
Losses
 
Commercial paper
 
$
—

 
$
—

 
$
—

 
$
—

Corporate debt securities
 
27,675

 
2

 
(205
)
 
27,472

Government obligations
 
—

 
—

 
—

 
—

 
 
$
27,675

 
$
2

 
$
(205
)
 
$
27,472

 
 
 
December 31, 2016
 
 
Amortized
Cost
 
Gross Unrealized
 
Fair
Value
 
 
 
Gains
 
Losses
 
Commercial paper
 
$
12,919

 
$
47

 
$
—

 
$
12,966

Corporate debt securities
 
153,240

 
52

 
(103
)
 
153,189

Government obligations
 
7,188

 
2

 
—

 
7,190

 
 
$
173,347

 
$
101

 
$
(103
)
 
$
173,345
Schedule of marketable securities on the balance sheet
Marketable securities on the balance sheet at September 30, 2017 and December 31, 2016 mature as follows:
 
 
September 30, 2017
 
 
Less Than
12 Months
 
More Than
12 Months
Commercial paper
 
$
—

 
$
—

Corporate debt securities
 
27,472

 
—

Government obligations
 
—

 
—

Total Marketable securities
 
$
27,472

 
$
—

 
 
December 31, 2016
 
 
Less Than
12 Months
 
More Than
12 Months
Commercial paper
 
$
12,966

 
$
—

Corporate debt securities
 
137,196

 
15,993

Government obligations
 
7,190

 
—

Total Marketable securities
 
$
157,352

 
$
15,993
Summary of changes in the fair value of the Company's Level 3 valuation for warrant liability and SARs liability
The table presented below is a summary of changes in the fair value of the Company’s Level 3 valuations for the warrant liability and SARs liability for the period ended September 30, 2017:
 
 
Level 3 liabilities
 
 
Warrants
 
SARs
Beginning balance as of December 31, 2016
 
$
1

 
$
865

Change in fair value
 
3

 
1,922

Payments
 
—

 
(1,064
)
Ending balance as of September 30, 2017
 
$
4

 
$
1,723