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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the fair value hierarchy for assets and liabilities measured at fair value on a recurring basis as of June 30, 2018 and December 31, 2017 (in thousands):

		June 30, 2018
		Level 1				Level 2				Level 3				Total
Financial assets:
Money market funds⁽¹⁾		$	45,949			$	—			$	—			$	45,949
U.S. government agency securities⁽²⁾			89,613				—				—				89,613
Restricted cash (money market funds)			175				—				—				175
Total financial assets		$	135,737			$	—			$	—			$	135,737

(1)	Included in cash and cash equivalents on accompanying condensed consolidated balance sheets.

(2)	Included in short-term investments on accompanying condensed consolidated balance sheets and are classified as available-for-sale securities.

		December 31, 2017
		Level 1				Level 2				Level 3				Total
Financial assets:
Money market funds⁽¹⁾		$	14,334			$	—			$	—			$	14,334
U.S. government agency securities⁽³⁾			16,471				—				—				16,471
Restricted cash (money market funds)⁽²⁾			5,333				—				—				5,333
Agency securities⁽³⁾			—				1,500				—				1,500
Total financial assets		$	36,138			$	1,500			$	—			$	37,638

(1)	Included in cash and cash equivalents on accompanying condensed consolidated balance sheets.

(2)	$5.2 million of restricted cash in the Indenture serves as full collateral for the redeemable convertible notes and $0.1 million of restricted cash serves as collateral for the Company’s corporate credit card and deposit for its facility lease.

(3)	Included in short-term investments on accompanying condensed consolidated balance sheets and are classified as available-for-sale securities.