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Fair Value of Financial Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s assets and liabilities as of December 31, 2015 and 2014 that are measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values:

 

 

 

Fair Value Measurements as of December 31, 2015 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Equivalents

 

$

 

 

$

23,125

 

 

$

 

 

$

23,125

 

Repurchase Agreements

 

 

 

 

 

20,000

 

 

 

 

 

 

20,000

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial Paper

 

 

 

 

 

64,820

 

 

 

 

 

 

64,820

 

Corporate Bonds

 

 

 

 

 

46,490

 

 

 

 

 

 

46,490

 

Government Securities

 

 

 

 

 

15,819

 

 

 

 

 

 

15,819

 

Treasury Bonds

 

 

 

 

 

4,020

 

 

 

 

 

 

4,020

 

 

 

$

 

 

 

$

174,274

 

 

$

 

 

 

$

174,274

 

 

 

 

Fair Value Measurements as of December 31, 2014 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liability for preferred stock warrant

 

$

 

 

$

 

 

$

1,582

 

 

$

1,582

 

 

 

$

 

 

$

 

 

$

1,582

 

 

$

1,582