Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Table Text Blocks

Schedule of financial instruments measured at fair value

Financial instruments measured at fair value as of March 31, 2017 are classified below based on the fair value hierarchy described above:

			Active		Observable		Unobservable
	March 31,		Markets		Inputs		Inputs
Description	2017		(Level 1)		(Level 2)		(Level 3)
Financial Assets
Cash equivalents:
Money market funds	$	50,364	$	50,364	$	—	$	—
Government agency securities		5,992		5,992
Investments, available-for-sale:
U.S Treasury obligations		179,969		179,969		—		—
Total	$	236,325	$	236,325	$	—	$	—

Financial instruments measured at fair value as of December 31, 2016 are classified below based on the fair value hierarchy described above:

			Active		Observable		Unobservable
	December 31,		Markets		Inputs		Inputs
Description	2016		(Level 1)		(Level 2)		(Level 3)
Financial Assets
Cash equivalents:
Money market funds	$	52,069	$	52,069	$	—	$	—
Investments, available-for-sale:
U.S Treasury obligations		216,149		216,149		—		—
Total	$	268,218	$	268,218	$	—	$	—