Marketable Securities

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

2. Marketable Securities

As of December 31, 2015, the Company maintained no marketable securities. Marketable securities as of December 31, 2014 consisted of the following, all of which were classified as available-for-sale:

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
	(in thousands)
December 31, 2014:
Commercial paper	$	6,493	$	—	$	(2	)	$	6,491
Corporate debt securities		81,921		—		(72	)		81,849
Total	$	88,414	$	—	$	(74	)	$	88,340

The aggregate fair value of securities held by the Company in an unrealized loss position for less than 12 months as of December 31, 2014 was $88.4 million, representing 35 securities. As of December 31, 2014, the Company did not intend to sell, and it was not more likely than not that the Company would be required to sell, the investments in an unrealized loss position before recovery of their amortized cost bases. The Company determined that there was no material change in the credit risk of the investments. As a result, the Company determined it did not hold any investments with an other-than-temporary-impairment as of December 31, 2014.

There were no realized gains or losses recognized on the sale or maturity of marketable securities during the years ended December 31, 2015, 2014 or 2013.