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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2013
Fair Value of Financial Instruments  
Schedule of fair value of the financial assets and liabilities

The following tables show the fair value of the Company's financial assets and liabilities that are required to be measured at fair value, in thousands:

 
   Fair Value Measurements at December 31, 2013  
 
   Total Carrying
Value at
December 31,
2013		   Quoted Prices
in Active
Markets
(Level 1)		   Significant
Other
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		  

Assets:

                          

Cash and cash equivalents

   $ 32,980   $ 32,980   $ —   $ —  

Marketable securities

     49,211     —     49,211     —  

Long term investments

     8,756     —     8,756     —  

Marketable securities—restricted (SERP)

     305     —     305     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets at fair value

   $ 91,252   $ 32,980   $ 58,272   $ —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Liabilities:

                          
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Derivative liabilities

   $ 12,644   $ —   $ —   $ 12,644  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   


 

 
   Fair Value Measurements at December 31, 2012  
 
   Total Carrying
Value at
December 31,
2012		   Quoted Prices
in Active
Markets
(Level 1)		   Significant
Other
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		  

Assets:

                          

Cash and cash equivalents

   $ 40,302   $ 31,561   $ 8,741   $ —  

Marketable securities

     48,206     —     48,206     —  

Marketable securities—restricted (SERP)

     279     —     279     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets at fair value

   $ 88,787   $ 31,561   $ 57,226   $ —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Liabilities:

                          
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Derivative liabilities

   $ 251   $ —   $ —   $ 251  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
Schedule of Level 3 liabilities included in Non-current Liabilities on the Balance Sheet

The following table presents information about the Company's Level 3 liabilities as of December 31, 2012 and December 31, 2013 that are included in the Non-Current Liabilities section of the Consolidated Balance Sheets, in thousands:

 
   Year Ended
December 31,
2012 and 2013		  

Balance at December 31, 2011

   $ 697  

Exercise of warrants

     (1,156 )

Changes in fair value of warrants included in earnings

     710  
       
​ ​ ​ ​ ​

Balance at December 31, 2012

     251  
       
​ ​ ​ ​ ​

Initial value of interest make-whole payment associated with the convertible notes

     9,270  

Changes in fair value of derivative liabilities included in earnings

     13,354  

Reduction due to conversion of debt to equity

     (10,231 )
       
​ ​ ​ ​ ​

Balance at December 31, 2013

   $ 12,644  
       
​ ​ ​ ​ ​
​ ​ ​ ​ ​
       
Schedule of unrestricted marketable securities

Unrestricted marketable securities held by the Company were as follows, in thousands:

At December 31, 2013:

Available for Sale
  Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value  

Corporate debt securities

   $ 57,967   $ 33   $ (33 ) $ 57,967  

At December 31, 2012:

Available for Sale
  Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value  

Corporate debt securities

   $ 48,259   $ 1   $ (54 ) $ 48,206  
Schedule of contractual maturities of the unrestricted marketable securities held

The contractual maturities of the unrestricted marketable securities held by the Company were as follows, in thousands:

 
   December 31,
2013		  

Less Than 1 Year

   $ 49,211  

1 - 5 years

     8,756  

Greater Than 5 Years

     —  
       
​ ​ ​ ​ ​

Total

   $ 57,967  
       
​ ​ ​ ​ ​
​ ​ ​ ​ ​
       
Common stock warrant
  
Fair value of financial instruments  
Schedule of assumptions used to calculate fair value of liabilities

 

 

Exercise Price

   $4.00 - $5.00 per share

Volatility

   70%

Stock Price as of December 31, 2013

   $7.54 per share

Term

   7.1 - 8.0 years

Dividend Yield

   0.0%

Risk-Free Rate

   2.55% - 2.75%
Interest make-whole liability
  
Fair value of financial instruments  
Schedule of assumptions used to calculate fair value of liabilities

 

 

Volatility

   45%

Stock Price as of December 31, 2013

   $7.54 per share

Credit Spread

   1200 bps

Term

   3.3 years

Dividend Yield

   0.0%