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MARKETABLE SECURITIES
12 Months Ended
Dec. 31, 2017
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, 2017 and 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 

 

 

December 31, 

(In thousands)

 

2017

    

2016

Cash

 

$

23

 

$

111

Money market funds

 

 

12,887

 

 

21,353

Marketable securities

 

 

 —

 

 

11,577

Total cash, cash equivalents and marketable securities

 

$

12,910

 

$

33,041

 

As of December 31, 2017, the Company had no marketable securities. As of December 31, 2016, the Company’s investment portfolio consisted of cash, money market funds and 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.

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Amortized Cost

    

Unrealized Gains

 

Unrealized Losses

 

 

Fair Value

December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Current (due within 1 year or less)

 

 

 

 

 

 

 

 

 

 

 

 

 

   Commercial paper

 

$

4,240

 

 

 —

 

 

 —

 

$

4,240

 

   Corporate obligations

 

 

7,337

 

 

 —

 

 

 —

 

 

7,337

 

  Total

 

$

11,577

 

$

 —

 

$

 —

 

$

11,577

 

 

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