Cash, Cash Equivalents and Marketable Securities	3 Months Ended
Mar. 31, 2013
Cash, Cash Equivalents and Marketable Securities
Cash, Cash Equivalents and Marketable Securities	4. Cash, Cash Equivalents and Marketable Securities All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents. As of March 31, 2013, the amount of cash and cash equivalents was approximately $9.1 million and consists of checking accounts, short-term money market funds held at U.S. commercial banks. As of December 31, 2012, the amount of cash and cash equivalent was approximately $12.4 million and consisted of checking accounts and short-term money market funds with U.S. commercial banks. At any point in time, the Company’s balance of cash and cash equivalent may exceed federally insured limits. The Company’s marketable securities as of March 31, 2013 consist of approximately $12.0 million in U.S. Treasury securities and have been classified and accounted for as available-for-sale. Management determines the appropriate classification of its investments at the time of purchase and reevaluates the available-for-sale designations as of each balance sheet date. Cash equivalents and marketable securities are carried at amounts that approximate fair value due to their short-term maturities. As of March 31, 2013, gross unrealized losses were not material. The Company recognized no net realized gains or losses for the three months ended March 31, 2013. The Company considers the declines in market value of its marketable securities investment portfolio to be temporary in nature. Fair values were determined for each individual security in the investment portfolio. When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company’s intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment’s amortized cost basis. During the three months ended March 31, 2013, the Company did not recognize any impairment charges. As of March 31, 2013 and December 31, 2012, the Company did not consider any of its investments to be other-than-temporarily impaired. The Company’s marketable securities as of December 31, 2012 consisted of approximately $20.1 million in U.S. Treasury securities.

4. Cash, Cash Equivalents and Marketable Securities

All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents. As of March 31, 2013, the amount of cash and cash equivalents was approximately $9.1 million and consists of checking accounts, short-term money market funds held at U.S. commercial banks. As of December 31, 2012, the amount of cash and cash equivalent was approximately $12.4 million and consisted of checking accounts and short-term money market funds with U.S. commercial banks. At any point in time, the Company’s balance of cash and cash equivalent may exceed federally insured limits.

The Company’s marketable securities as of March 31, 2013 consist of approximately $12.0 million in U.S. Treasury securities and have been classified and accounted for as available-for-sale. Management determines the appropriate classification of its investments at the time of purchase and reevaluates the available-for-sale designations as of each balance sheet date. Cash equivalents and marketable securities are carried at amounts that approximate fair value due to their short-term maturities. As of March 31, 2013, gross unrealized losses were not material. The Company recognized no net realized gains or losses for the three months ended March 31, 2013. The Company considers the declines in market value of its marketable securities investment portfolio to be temporary in nature. Fair values were determined for each individual security in the investment portfolio. When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company’s intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment’s amortized cost basis. During the three months ended March 31, 2013, the Company did not recognize any impairment charges. As of March 31, 2013 and December 31, 2012, the Company did not consider any of its investments to be other-than-temporarily impaired. The Company’s marketable securities as of December 31, 2012 consisted of approximately $20.1 million in U.S. Treasury securities.