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Marketable Securities
 6 Months Ended
Jun. 30, 2017
Investments Debt And Equity Securities [Abstract]  
Marketable Securities

4. Marketable Securities

As of June 30, 2017 and December 31, 2016 the fair value of available-for-sale marketable securities by type of security was as follows:

 

 

 

June 30, 2017

 

(In thousands)

 

Amortized Cost

 

 

Gross Unrealized

Gains

 

 

Gross Unrealized

Losses

 

 

Fair Value

 

U.S. government obligations

 

$

46,475

 

 

$

—

 

 

$

(9

)

 

$

46,466

 

Commercial paper

 

 

14,445

 

 

 

—

 

 

 

—

 

 

 

14,445

 

Corporate bonds

 

 

101,837

 

 

 

3

 

 

 

(71

)

 

 

101,769

 

 

 

$

162,757

 

 

$

3

 

 

$

(80

)

 

$

162,680

 

 

 

 

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 June 30, 2017 and December 31, 2016, marketable securities consisted of approximately $162,680,000 and $174,688,000, respectively, of investments that mature within twelve months and as of December 31, 2016 approximately $4,725,000 of investments that mature within fifteen months.  As of June 30, 2017 there were no marketable securities with maturities beyond twelve months.