Marketable Investments

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Marketable Investments

Note 3. Marketable Investments

Investment in securities at December 31, 2015 and 2014 consist of the following (in thousands):

	December 31, 2015		December 31, 2014
Corporate debt securities	$	2,857	$	3,119
Equity securities		2,429		1,730
Total	$	5,286	$	4,849

The amortized cost basis amounts, gross unrealized holding gains, gross unrealized holding losses and fair values of available-for-sale securities as of December 31, 2015 and 2014, are as follows (in thousands):

December 31, 2015	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Fair Value
Available for sale securities:
Corporate debt securities	$	2,857	$	—	$	—	$	2,857
Equity securities		2,429		—		—		2,429
	$	5,286	$	—	$	—	$	5,286

December 31, 2014	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Fair Value
Available for sale securities:
Corporate debt securities	$	3,119	$	—	$	—	$	3,119
Equity securities		1,730		—		—		1,730
	$	4,849	$	—	$	—	$	4,849

During the year ended December 31, 2015, and 2014, the Company had no sales of available-for-sale securities.

Equity Securities

During the year ended December 31, 2015, the Company identified one equity security, its investment in Series F Preferred Stock of SynCardia, with an other than temporary impairment. On September 15, 2014, the Company purchased a total of 1,244,511 shares of Series F Preferred Stock of SynCardia at a price of $1.39 per share, including 165,374 shares, which were received in lieu of cash payment of $0.2 million of interest due on the second lien loan. The Company’s total investment in SynCardia at December 31, 2014 was $1.7 million. On February 13, 2015, the Company received 1,079,138 shares of Series F Preferred Stock of SynCardia at a price of $1.39 per share. An impairment loss of $3.2 million was recognized to reflect this security at its estimated fair market value of $0. Additionally, the Company has also recognized an impairment charge of $3.4 million on its investment in Cancer Genetics common stock discussed in Note 2. As of December 31, 2015 Cancer Genetics shares are valued at $3.30 per share.

Debt Securities

Additionally, on July 9, 2013, the Company entered into a note purchase agreement to purchase, at par, $3.0 million of a total of $100.0 million aggregate principal amount of senior secured notes due in November 2026.  The agreement allows the first interest payment date to include paid-in-kind notes for any cash shortfall, of which the Company received $0.1 million on November 15, 2013.  The notes are secured only by certain royalty and milestone payments associated with the sales of pharmaceutical products. The notes are reflected at fair value as available-for-sale securities. The Company recognized a permanent credit loss on these notes of $0.2 million for the year ended December 31, 2015.

There were no securities considered impaired as of December 31, 2014.