Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Financial Instruments Measured at Fair Value on Recurring Basis

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

	Fair Value Measurements at December 31, 2016
	Total		Level 1		Level 2		Level 3
Assets
Money market funds	$	85,911	$	85,911	$	—	$	—

	Fair Value Measurements at December 31, 2015
	Total		Level 1		Level 2		Level 3
Assets
Money market funds	$	132,647	$	132,647	$	—	$	—

Summary of Changes in Fair Value of Financial Instruments

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial instruments as follows:

	Convertible	Convertible
	preferred stock	preferred stock
	call option	warrant
	liability	liability
Balance at January 1, 2014	$ 21	$ 474
Change in fair value recorded in other income (expense), net	9,560	2,278
Conversion of preferred stock into common stock and reclassification to permanent equity	(9,581)	(2,752)
Balance at December 31, 2014	$ —	$ —