Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2016

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables sets forth the fair value of the Company’s financial assets and liabilities at fair value on a recurring basis based on the three-tier fair value hierarchy (in thousands):

	September 30, 2016
	Level 1		Level 2		Level 3		Total
Financial Assets
Money market funds	$	5,290	$	—	$	—	$	5,290
Reverse repurchase agreements		—		39,250		—		39,250
US government and agency securities		—		19,491		—		19,491
Total financial assets	$	5,290	$	58,741	$	—	$	64,031

	December 31, 2015
	Level 1		Level 2		Level 3		Total
Financial Assets
Money market funds	$	3,988	$	—	$	—	$	3,988
Reverse repurchase agreements		—		16,250		—		16,250
US government and agency securities		—		3,768		—		3,768
Total financial assets	$	3,988	$	20,018	$	—	$	24,006