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MARKETABLE SECURITIES
12 Months Ended
Dec. 31, 2016
MARKETABLE SECURITIES  
MARKETABLE SECURITIES

3. MARKETABLE SECURITIES

 

The Company invests its excess cash in fixed income instruments denominated and payable in U.S. dollars including money market accounts, commercial paper, and corporate obligations in accordance with the Company’s investment policy that primarily seeks to maintain adequate liquidity and preserve capital.

 

The following table summarizes the Company’s cash, cash equivalents, and marketable securities as of December 31, 2016 and 2015:

 

 

 

 

 

 

 

 

 

 

December 31, 

 

 

2016

    

2015

Cash

 

$

111

 

$

116

Money market funds

 

 

21,353

 

 

14,804

Marketable securities

 

 

11,577

 

 

5,274

Total cash, cash equivalents and marketable securities

 

$

33,041

 

$

20,194

 

As of December 31, 2016, the Company’s investment portfolio consists of marketable securities with an original maturity of greater than 90 days. The Company has designated all investments as available-for-sale and therefore, such investments are reported at fair value. As of December 31, 2016, the fair value of the Company’s marketable securities approximates amortized cost and therefore the insignificant gains/losses on these securities have been included within Other Income (Expense) on the Statement of Operations.

 

The following table summarizes the Company’s short-term investments in marketable securities by category as of December 31, 2016 and 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortized Cost

    

Unrealized Gains

 

Unrealized Losses

 

 

Fair Value

December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

   Commercial paper

 

 

4,240

 

 

 

 

 

 

 

 

4,240

 

  Corporate obligations

 

 

7,337

 

 

 —

 

 

 —

 

 

7,337

 

  Total

 

$

11,577

 

$

 —

 

$

 —

 

$

11,577

 

December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

   Commercial paper

 

 

349

 

 

 

 

 

 

 

 

349

 

  Corporate obligations

 

 

4,925

 

 

 —

 

 

 —

 

 

4,925

 

  Total

 

$

5,274

 

$

 —

 

$

 —

 

$

5,274

 

 

As of December 31, 2016 and 2015, the Company’s investments in marketable securities are classified in current assets as they are due in one year or less.