Cash, Cash Equivalents and Available-for-sale Securities

3 Months Ended

Mar. 31, 2017

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Cash, Cash Equivalents and Available-for-sale Securities

Cash, Cash Equivalents and Available-for-sale 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, 2017 and December 31, 2016, the amount of cash and cash equivalents was $139.3 million and $82.4 million, respectively and consists of checking accounts and short-term U.S. Treasury money market mutual funds. Checking accounts are held at U.S. commercial banks, and balances were in excess of the FDIC insurance limit.