FAIR VALUE MEASUREMENT (Tables)

3 Months Ended

Mar. 31, 2016

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and Liabilities Measured at Fair Value on a Recurring Basis  

(In thousands)
March 31, 2016	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents (1)	$	118,792	$	—	$	—	$	118,792
Total	$	118,792	$	—	$	—	$	118,792
Liabilities
Contingent consideration liability	$	—	$	—	$	152,070	$	152,070
Total	$	—	$	—	$	152,070	$	152,070
December 31, 2015	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents (1)	$	147,007	$	—	$	—	$	147,007
Total	$	147,007	$	—	$	—	$	147,007
Liabilities
Contingent consideration liability	$	—	$	—	$	166,800	$	166,800
Total	$	—	$	—	$	166,800	$	166,800

(1) Cash equivalents represent the fair value of the Company’s investments in money market funds at March 31, 2016 and December 31, 2015.

Common Stock Warrants [Member]

Summary of Level 3 Liabilities Measured at Fair Value on Recurring Basis

Changes in Level 3 Liabilities Measured at Fair Value on a Recurring Basis – Common Stock Warrants

	Three Months Ended March 31,
(In thousands)	2016		2015
Beginning fair value		—	$	711
Change in fair value recognized in earnings		—		55
Exercises	$	—	$	—
Ending Fair Value	$	—	$	766

Contingent Consideration Liability [Member]

Summary of Level 3 Liabilities Measured at Fair Value on Recurring Basis

Changes in Level 3 Liabilities Measured at Fair Value on a Recurring Basis – Contingent Consideration Liability

(In thousands)
Balance as of December 31, 2015	$	166,800
Fair value adjustment		(14,730	)
Balance as of March 31, 2016	$	152,070