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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities that are measured at fair value on a 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 June 30, 2017:
 
 
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 money market funds*
$
136,634

 
$
—

 
$
—

Investments in U.S. Treasury securities
$
48,134

 
$
—

 
$
—

Investments in Corporate debt securities
$
—

 
$
7,392

 
$
—


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, 2016:
 
 
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 money market funds*
$
108,096

 
$
—

 
$
—

Investments in U.S. Treasury securities
$
120,261

 
$
—

 
$
—

Investments in Corporate debt securities
$
—

 
$
35,087

 
$
—



 
*    Investments in money market funds, U.S. Treasury securities and corporate debt securities with maturities less than 90 days are reflected in cash and cash equivalents in the accompanying Balance Sheets.