401(k) Savings Plan

3 Months Ended

Mar. 31, 2017

Postemployment Benefits [Abstract]

401(k) Savings Plan

Note 7—401(k) Savings Plan:

During 2012, the Company adopted a 401(k) savings plan for the benefit of its employees. The Company is required to make matching contributions to the 401(k) plan equal to 100% of the first 3% of wages deferred by each participating employee and 50% on the next 2% of wages deferred by each participating employee. The Company incurred expenses for employer matching contributions of approximately $0.2 million and $0.3 million for the three months ended March 31, 2017 and 2016, respectively.