Available for Sale Securities (Tables)

3 Months Ended

Mar. 31, 2017

Investments Debt And Equity Securities [Abstract]

Summary of Available-for-sale Securities

The Company’s portfolio of available-for-sale securities consists of U.S. Treasuries and high credit quality corporate debt securities. The following is a summary of the Company’s available-for-sale securities at March 31, 2017 and December 31, 2016:  

	March 31, 2017
			Gross		Gross			Fair Value
	Amortized		Unrealized		Unrealized			(Net Carrying
	Cost		Gains		Losses			Amount)
U.S. Treasury securities	$	1,302,498	$	-	$	(178	)	$	1,302,320
Corporate debt securities		1,309,066		—		(558	)		1,308,508
Total available-for-sale securities	$	2,611,564	$	-	$	(736	)	$	2,610,828

	December 31, 2016
			Gross		Gross			Fair Value
	Amortized		Unrealized		Unrealized			(Net Carrying
	Cost		Gains		Losses			Amount)
U.S. Treasury securities	$	1,300,151	$	512	$	—		$	1,300,663
Corporate debt securities		3,005,840		—		(1,602	)		3,004,238
Total available-for-sale securities	$	4,305,991	$	512	$	(1,602	)	$	4,304,901

Summary of Contractual Maturities of Debt Investment Securities

Contractual maturities of debt investment securities at March 31, 2017 are shown below.

	Under
	1 Year		1 to 2 Years		Total
U.S. Treasury securities	$	1,302,320	$	—	$	1,302,320
Corporate debt securities		1,308,508		—		1,308,508
Total available-for-sale securities	$	2,610,828	$	—	$	2,610,828

Summary of Debt Securities with Unrealized Losses

The following table shows the gross unrealized losses and fair values of the Company’s investments that have unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2017:

	Under 1 Year					1 to 2 Years					Total
			Gross					Gross					Gross
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
U.S. Treasury securities	$	1,302,320	$	(178	)	$	—	$	—		$	1,302,320	$	(178	)
Corporate debt securities		—		—			1,308,508		(558	)		1,308,508		(558	)
Total available-for-sale securities with unrealized    losses	$	1,302,320	$	(178	)	$	1,308,508	$	(558	)	$	2,610,828	$	(736	)