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Marketable Securities
 3 Months Ended
Mar. 31, 2017
Investments Debt And Equity Securities [Abstract]  
Marketable Securities

4. Marketable Securities

As of March 31, 2017 and December 31, 2016 the fair value of available-for-sale marketable securities by type of security was as follows:

 

 

 

March 31, 2017

 

(In thousands)

 

Amortized Cost

 

 

Gross Unrealized

Gains

 

 

Gross Unrealized

Losses

 

 

Fair Value

 

U.S. Government obligations

 

$

58,012

 

 

$

—

 

 

$

(26

)

 

$

57,986

 

Commercial Paper

 

 

11,521

 

 

 

—

 

 

 

—

 

 

 

11,521

 

Corporate bonds

 

 

75,153

 

 

 

5

 

 

 

(41

)

 

 

75,117

 

 

 

$

144,686

 

 

$

5

 

 

$

(67

)

 

$

144,624

 

 

 

 

December 31, 2016

 

(In thousands)

 

Amortized Cost

 

 

Gross Unrealized

Gains

 

 

Gross Unrealized

Losses

 

 

Fair Value

 

Commercial Paper

 

$

7,769

 

 

$

—

 

 

$

—

 

 

$

7,769

 

U.S. Government obligations

 

 

75,524

 

 

 

5

 

 

 

(12

)

 

 

75,517

 

Corporate Bonds

 

 

96,193

 

 

 

1

 

 

 

(66

)

 

 

96,128

 

 

 

$

179,486

 

 

$

6

 

 

$

(78

)

 

$

179,414

 

 

As of March 31, 2017 and December 31, 2016, marketable securities consisted of approximately $142,896,000 and $174,688,000, respectively, of investments that mature within twelve months and approximately $1,728,000 and $4,725,000, respectively, of investments that mature within seventeen months.