Fair value of financial instruments (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurement of Financial Instruments

The following table presents information about the Company’s financial instruments that are measured at fair value as of September 30, 2014 and indicates the fair value hierarchy of the valuation (in thousands):

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Description
Cash equivalents:
Money market mutual funds	$	635	$	635	$	—
Total cash equivalents	635		635		—
Short-term investments:
Corporate bonds	47,944		—		47,944
U.S. agency securities	39,277		—		39,277
Asset-backed securities	22,008		—		22,008
U.S. Treasury securities	15,772		—		15,772
Total short-term investments	125,001		—		125,001
Cash equivalents and short-term investments	$	125,636	$	635	$	125,001

The following table presents information about the Company’s financial instruments that are measured at fair value as of December 31, 2013 and indicates the fair value hierarchy of the valuation (in thousands):

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Description
Cash equivalents:
Money market mutual funds	$	164	$	164	$	—
Total cash equivalents	164		164		—
Short-term investments:
Corporate bonds	40,583		—		40,583
U.S. agency securities	31,747		—		31,747
Asset-backed securities	15,882		—		15,882
U.S. Treasury securities	16,789		—		16,789
Total short-term investments	105,001		—		105,001
Cash equivalents and short-term investments	$	105,165	$	164	$	105,001