Marketable Investments

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Marketable Investments

Note 3. Marketable Investments

Investment in marketable securities at December 31, 2016 and 2015 consist of the following (in thousands):

	December 31,
	2016		2015
Corporate debt securities	$	1,564	$	2,857
Equity securities		1,057		2,429
Total	$	2,621	$	5,286

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, 2016 and 2015, are as follows (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss			Fair Value
December 31, 2016
Available for sale securities:
Corporate debt securities	$	1,564	$	—	$	—		$	1,564
Equity securities		1,144		—		(87	)		1,057
	$	2,708	$	—	$	(87	)	$	2,621

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

During the years ended December 31, 2016, and 2015, the Company had no sales of available-for-sale securities.

Equity Securities

Marketable equity securities held by the Company include 736,076 shares of Cancer Genetics common stock and 77,922 shares of Hooper Holmes common stock. During the year ended December 31, 2016, the Company recognized other-than-temporary impairment expense of $1.4 million related to the Cancer Genetics common stock. As of December 31, 2016, the Cancer Genetics and Hooper Holmes equity securities are reflected at fair value of $1.0 million and $0.1 million, respectively, as available-for-sale securities.

Debt Securities

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.

During the year ended December 31, 2016, the Company recorded an impairment expense of $1.4 million related to these notes, of which approximately $0.1 million reflects the write off of interest accrued on these notes. The remainder of the expense was taken as an other-than-temporary impairment. The senior secured notes were placed on nonaccrual status as of June 30, 2016. Total cash of approximately $41 thousand was collected during the year was and credited to the notes’ carry value. As of December 31, 2016, the notes are reflected at their estimated fair value of $1.6 million and classified as available-for-sale securities.