Cash, Cash Equivalents and Marketable Securities

9 Months Ended

Sep. 30, 2016

Cash, Cash Equivalents and Marketable Securities

Cash, Cash Equivalents and Marketable Securities

5.Cash, Cash Equivalents and Marketable Securities

A summary of cash, cash equivalents and available-for-sale marketable securities held by the Company as of September 30, 2016 and December 31, 2015 is as follows:

	September 30, 2016
	Amortized		Unrealized		Unrealized			Fair
	Cost		gains		losses			value
Cash and cash equivalents:
Cash and money market funds (Level 1)	$	8,393,302	$	—	$	—		$	8,393,302
Corporate debt securities due within 3 months of date of purchase (Level 2)	—		—		—			—
Total cash and cash equivalents	8,393,302		—		—			8,393,302
Marketable securities:
Corporate debt securities due within 1 year of date of purchase (Level 2)	31,177,038				(12,485		)	31,164,553
Total cash, cash equivalents and marketable securities	$	39,570,340	$	—	$	(12,485	)	$	39,557,855

	December 31, 2015
	Amortized		Unrealized		Unrealized		Fair
	Cost		gains		Losses		value
Cash and cash equivalents:
Cash and money market funds (Level 1)	$	306,249	$	—	$	—	$	306,249
Total cash, cash equivalents and marketable securities	$	306,249	$	—	$	—	$	306,249