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INVESTMENTS
 12 Months Ended
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS
Investments

The following tables summarize our short-term investments (in thousands):
 
 
 
As of December 31, 2015
 
Maturity (in years)
 
Amortized cost
 
Gross unrealized gains
 
Gross unrealized losses
 
Estimated fair value
Corporate debt securities
1 year or less
 
$
27,644

 
$
—

 
$
(22
)
 
$
27,622

Commercial paper
1 year or less
 
45,158

 
54

 
—

 
45,212

 
 
 
$
72,802

 
$
54

 
$
(22
)
 
$
72,834

 
 
 
As of December 31, 2014
 
Maturity (in years)
 
Amortized cost
 
Gross unrealized gains
 
Gross unrealized losses
 
Estimated fair value
Corporate debt securities
1 year or less
 
$
21,208

 
$
3

 
$
(1
)
 
$
21,210

Commercial paper
1 year or less
 
1,500

 
—

 
—

 
1,500

 
 
 
$
22,708

 
$
3

 
$
(1
)
 
$
22,710



Unrealized gains and losses on available-for-sale securities are included as a component of comprehensive loss. At December 31, 2015, the Company did not have any securities in material unrealized loss positions. The Company reviews its investments to identify and evaluate investments that have an indication of possible other-than-temporary impairment. Factors considered in determining whether a loss is other-than-temporary include the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. The Company does not intend to sell any investments prior to recovery of their amortized cost basis for any investments in an unrealized loss position.