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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables show assets measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016:

 

 

 

June 30, 2017

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

128,931

 

 

$

—

 

 

$

—

 

Totals

 

$

128,931

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Silver Creek warrant liability

 

$

—

 

 

$

—

 

 

$

4,062

 

Totals

 

$

—

 

 

$

—

 

 

$

4,062

 

 

 

 

December 31, 2016

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

12,373

 

 

$

—

 

 

$

—

 

Totals

 

$

12,373

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Silver Creek warrant liability

 

$

—

 

 

$

—

 

 

$

1,499

 

Totals

 

$

—

 

 

$

—

 

 

$

1,499