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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2014
Fair Value Measurements  
Schedule of the Company's assets and liabilities that are measured at fair value on recurring basis

The following table presents, for each of the fair value hierarchy levels required under ASC 820, the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2014:

 

 

 

Fair Value Measurement Using

 

 

 

Quoted prices in
active markets for
identical assets
(Level 1)

 

Significant other
observable inputs
(Level 2)

 

Significant
unobservable
inputs
(Level 3)

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

Investments in U.S. Treasury money market funds*

 

$

56,620

 

$

—

 

$

—

 

Investments in U.S. Treasury securities with maturities < 1 year

 

$

196,500

 

$

—

 

$

—

 

Investments in U.S. Treasury securities with maturities > 1 year

 

$

27,763

 

$

—

 

$

—

 

 

The following table presents, for each of the fair value hierarchy levels required under ASC 820, the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2013:

 

 

 

Fair Value Measurement Using

 

 

 

Quoted prices in
active markets for
identical assets
(Level 1)

 

Significant other
observable inputs
(Level 2)

 

Significant
unobservable
inputs
(Level 3)

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

Investments in U.S. Treasury money market funds*

 

$

203,828

 

$

—

 

$

—

 

 

 

*                         Investments in U.S. Treasury money market funds are reflected in cash and cash equivalents in the accompanying Balance Sheets.