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Available-for-Sale Marketable Securities (Tables)
6 Months Ended
Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-Sale Marketable Securities by Major Type of Security

The following tables summarize the Company’s available-for-sale marketable securities by major type of security as of June 30, 2017 and December 31, 2016:

As of June 30, 2017

 

            Gross Unrealized      Estimated
Fair Value
 

Type of Security

   Amortized Cost      Gains      Losses     

Money market funds

   $ 42,976      $ 7      $ —        $ 42,983  

U.S. government agency obligations

     7,999        —          (1      7,998  

Corporate bonds

     26,901        —          (12      26,889  

Commercial paper

     25,157        —          (7      25,150  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total available-for-sale marketable securities

   $ 103,033      $ 7      $ (20    $ 103,020  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

As of December 31, 2016

 

            Gross Unrealized      Estimated
Fair Value
 

Type of Security

   Amortized Cost      Gains      Losses     

Money market funds

   $ 8,268      $ 8      $ —        $ 8,276  

U.S. Treasury securities

     2,523        —          (1      2,522  

U.S. government agency obligations

     3,501        1        —          3,502  

Corporate bonds

     16,683        —          (6      16,677  

Commercial paper

     15,206        3        (2      15,207  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total available-for-sale marketable securities

   $ 46,181      $ 12      $ (9    $ 46,184  
  

 

 

    

 

 

    

 

 

    

 

 

 
Schedule of Amortized Cost and Fair Values of Marketable Debt Securities by Contractual Maturity

The Company classifies its marketable debt securities based on their contractual maturity dates. As of June 30, 2017, the Company’s marketable debt securities mature at various dates through April 2018. The amortized cost and fair values of marketable debt securities by contractual maturity were as follows. The table does not include money market funds that are classified as available-for-sale marketable securities.

 

     As of June 30, 2017      As of December 31, 2016  
Contractual maturity    Amortized Cost      Fair Value      Amortized Cost      Fair Value  

Less than one year

   $ 60,057      $ 60,037      $ 37,913      $ 37,908  
  

 

 

    

 

 

    

 

 

    

 

 

 
Schedule of Fair Values and Continuous Unrealized Loss Positions of Available-for-Sale Marketable Securities

The following tables show the fair value of the Company’s available-for-sale marketable securities that have unrealized losses and that are deemed to be only temporarily impaired, aggregated by investment category and length of time that the individual investments have been in a continuous unrealized loss position.

As of June 30, 2017

 

     Less than 12 Months     12 Months or Greater      Total  
     Fair Value      Gross
Unrealized
Losses
    Fair Value      Gross
Unrealized
Losses
     Fair Value      Gross
Unrealized
Losses
 

U.S. government agency obligations

   $ 4,004      $ (1   $ —        $ —        $ 4,004      $ (1

Corporate bonds

     24,888        (12     —          —          24,888        (12

Commercial paper

     22,152        (7     —          —          22,152        (7
  

 

 

    

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 51,044      $ (20   $ —        $ —        $ 51,044      $ (20
  

 

 

    

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

 

As of December 31, 2016

 

     Less than 12 Months     12 Months or Greater      Total  
     Fair Value      Gross
Unrealized
Losses
    Fair Value      Gross
Unrealized
Losses
     Fair Value      Gross
Unrealized
Losses
 

U.S. Treasury securities

   $ 2,522      $ (1   $ —        $ —        $ 2,522      $ (1

Corporate bonds

     9,919        (6     —          —          9,919        (6

Commercial paper

     5,227        (2     —          —          5,227        (2
  

 

 

    

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 17,668      $ (9   $ —        $ —        $ 17,668      $ (9